Nasdaq mining company IREN announced the issuance of $450 million convertible bonds, part of which will be used to reduce equity dilution.

On-chainStrategist · 2025-06-11T04:36:04+00:00

The Nasdaq-listed mining company IREN plans to issue $450 million in convertible preferred notes to accredited investors, with the funds expected to be used for capped options trading, stock buybacks, and general corporate purposes. IREN operates 2,910 megawatts of data centers in the U.S. and Canada, involving Bitcoin mining and AI services.

On-chainStrategist

2025-06-11 04:36:04

Abstract generation in progress

On June 11, IREN, a NASDAQ-listed mining company, announced that it intends to issue US$450 million of convertible senior notes to qualified institutional investors through private placement, and reserves the right to add US$50 million within 13 days. The Company plans to use a portion of the proceeds for cap option transactions to reduce equity dilution from convertible debt to equity swaps, and intends to enter into a $100 million prepaid forward share repurchase agreement. The remaining funds will be used for general corporate purposes and to replenish working capital. It is reported that IREN operates data centers with a total installed capacity of 2,910 megawatts in the United States and Canada, and its business covers three major areas: bitcoin mining, AI cloud services and AI data centers.

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