Bitcoin mining firm Keel Infrastructure, listed on Nasdaq, has successfully issued $458 million in convertible senior notes. The notes carry a 1.25% coupon rate and are set to mature in 2032, with an initial conversion price of approximately $7.41, reflecting a 25% premium over the June 4th closing price. The company plans to use part of the proceeds to purchase capped call options to mitigate dilution risk upon conversion. Keel Infrastructure, formerly known as Bitfarms, aims to utilize its existing liquidity to support the development of its Panther Creek, Sharon, and Moses Lake projects through leasing. The funds raised will also provide the company with greater flexibility for general corporate purposes, including long-term equipment deposits and letters of credit for data center projects.