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Mining company IREN plans to issue $450 million convertible bonds, with part of the funds to be used for stock repurchase.
[Chain News] On June 11, it was reported that the NASDAQ-listed mining company IREN announced its plan to issue $450 million of convertible preferred notes through a private sale to qualified institutional investors, retaining the right to increase the amount by $50 million within 13 days. The company plans to use part of the raised funds for options trading to reduce the equity dilution caused by the conversion of convertible bonds, and also intends to sign a prepaid forward stock repurchase agreement worth $100 million. The remaining funds will be used for general corporate purposes and to supplement working capital. It is reported that IREN operates data centers in the United States and Canada with a total installed capacity of 2,910 megawatts, covering three major areas: Bitcoin mining, AI cloud services, and AI data centers.