IREN completes $3.6 billion financing to accelerate AI cloud infrastructure development

IREN announced on December 3 that it has completed a financing plan totaling over $3.6 billion, including $1.6 billion in equity financing and $2 billion in convertible bond issuance.

The funds from this financing will be used to repay existing low-priced convertible bonds and strengthen the balance sheet to support the large-scale expansion of the company's AI cloud business. The newly issued convertible bonds include $1 billion of 0.25% bonds maturing in 2032 and $1 billion of 1% bonds maturing in 2033, with an initial conversion price of approximately $51.4 per share, significantly higher than the old bond's conversion price of $17.