Deep Tide TechFlow News, May 11 — Bitcoin mining companies and AI cloud service provider IREN announced plans to issue $2 billion in 2033 maturity convertible preferred notes to qualified institutional buyers through a private placement. The initial buyers may also exercise options to subscribe for up to an additional $300 million within 13 days after the initial issuance of the notes. The notes will mature on December 1, 2033, with interest paid semiannually. The note's interest rate, initial conversion price, and other terms will be determined at pricing. IREN plans to use part of the proceeds for capped call option trading, with the remaining funds allocated for general corporate purposes and working capital.

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