Bitcoin mining company IREN has announced the issuance of $875 million in convertible senior notes, set to mature in 2031 with a 0.00% interest rate. The Nasdaq-listed firm has also provided initial purchasers the option to acquire an additional $125 million in notes within 13 days of the initial issuance. IREN expects net proceeds of approximately $856.5 million, or $979 million if the additional notes are fully purchased. The company plans to allocate $49.6 million for capped call option transaction costs, with the remainder supporting general corporate purposes and working capital.