The listed Bitcoin miner IREN plans to issue $450 million in Convertible Bonds.

2025-06-11 01:43:46

Gate News bot reports that IREN, a Nasdaq-listed company focused on Bitcoin Mining and artificial intelligence, has announced plans to raise $450 million by privately issuing convertible preferred notes to qualified institutional investors.

The company may also issue an additional $50 million to the initial buyers within 13 days after the issuance date.

The IREN plan aims to use part of the raised funds to execute capped call option trades. These trades are intended to minimize the dilution of shares caused by the conversion of convertible notes and to offset potential cash payments when the settlement price of the notes is above the principal.

The company also plans to reach a pre-paid forward stock repurchase agreement worth up to $100 million, aimed at facilitating investor hedging and stabilizing the stock price. The remaining funds will be used to support general corporate purposes and serve as working capital.

IREN (formerly known as Iris Energy) operates a 2,000-acre data center in the United States and Canada, with 2,910 megawatts of grid-connected power. The company currently focuses on three major areas: Bitcoin Mining, artificial intelligence cloud services, and artificial intelligence data centers.

According to Google Finance data, IREN’s stock price closed up 1.45% at $10.49 on Nasdaq on Tuesday. Year-to-date, the stock has remained basically flat, with an increase of 0.29%.

Source: The Block

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