IREN is planning to issue $2 billion in 2033 Convertible Senior Notes to be used for hedging transactions and corporate expansion.

BlockBeats News, May 11th, IREN announced its intention to issue $20 billion in 2033 due convertible senior notes, with an additional grant of up to $3 billion to the initial purchaser for additional purchases. The notes are unsecured senior debt, expected to mature in December 2033, and the proceeds will be partially used for capped call hedging transactions, with the remainder for general corporate purposes and working capital.

Meanwhile, IREN also plans to simultaneously unwind some of its 2029 and 2030 convertible bond related capped call options hedging positions. The company stated that hedge funds may engage in derivatives and spot trading around IREN's stock, thereby affecting the stock price and the new notes' initial conversion price.

Prior to this, IREN has already become one of the most aggressively expanding mining companies in the U.S. stock market, focusing on AI data centers and Bitcoin mining infrastructure. This large-scale financing may further strengthen its capital expenditure and expansion capabilities.

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