Bitcoin Miner Core Scientific Launches $350 Million Convertible Notes Offering
Core Scientific plans to issue $350 million in convertible senior notes, with the offering expected to close in September 2029.
The funds will primarily be used for debt repayment and corporate needs. The notes, which will be sold to institutional investors. Can be converted into cash or common stock and accrue interest semi-annually. Core Scientific also has the option to increase the offering by $52.5 million.
This move follows Marathon Digital’s recent private sale and comes as Core Scientific partners with Block for 15 EH/s of mining ASIC chips. The company aims to enhance its capital structure and financial flexibility with this strategy.
Clever Robot News Desk 14th August 2024
