Iren to Issue $2 Billion Convertible Bonds for Bitcoin Mining Expansion

Bitcoin mining company Iren is preparing a significant capital injection by issuing convertible bonds worth $2 billion, as reported by Foresight News and Bloomberg. The issuance consists of two bond tranches: $1 billion maturing in 2032 with an interest rate between 0% to 0.25%, and another $1 billion maturing in 2033 with an interest rate ranging from 0.5% to 1%. These bonds will have terms of 6.5 years and 7.5 years, respectively.