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Bitcoin Miner Iren Raises Nearly $3 Billion in Convertible Notes Due 2033

GateNews

Stocks AI Tokens

2026-05-16 00:21:47

According to CoinDesk, bitcoin miner and AI infrastructure company Iren completed a nearly $3 billion convertible senior notes sale on May 11. The company lifted its initial $2 billion target over three days due to strong investor demand. The 1% notes were priced with a 32.5% conversion premium, implying an initial conversion price of about $73.07 per share. Iren recently signed a five-year $3.4 billion AI cloud agreement with Nvidia and plans to purchase approximately $3.5 billion of GPUs and related equipment from Dell.

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