Bitcoin miner IREN falls after planned $875 mln convertible bonds sale announced
Shares of IREN IREN.O down 6.5% at $57.70 in extended trading as bitcoin miner looks to raise capital
Australia-based IREN announces private offering of $875 mln convertible bonds due 2031
Co intends to use net proceeds for general corp purposes, working capital
It also plans to use a portion of net proceeds to pay for capped calls, derivative transactions to offset potential dilution
IREN shares on Tues closed up 6.8% at $61.68 after co inked new cloud services contracts for Nvidia NVDA.O GPUs
In Aug, co secured Nvidia's preferred partner status
IREN has about $16.8 bln market cap
Through Tues close, shares up 523% YTD
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