Bitcoin mining company IREN plans to issue $450 million in convertible bonds

ChainCatcher news, according to The Block, Nasdaq-listed Bitcoin mining company IREN plans to issue $450 million of convertible senior notes through a private placement to qualified institutional investors, and reserves the right to add an additional $50 million within 13 days.

Part of the raised funds will be used to execute capped call transactions and prepaid forward share repurchase deals to reduce share dilution and support investor hedging. The remaining funds will be used for general corporate purposes and operations.