Bitcoin mining firm IREN, listed on Nasdaq, is set to raise $450 million through the issuance of convertible senior bonds in a private placement to qualified institutional investors. The company also retains the option to increase the offering by an additional $50 million within 13 days. Proceeds from the bond issuance will be allocated to capped call transactions and prepaid forward share repurchase agreements, aimed at minimizing share dilution and facilitating investor hedging. Remaining funds will support general corporate purposes and operational needs.