Artificial intelligence and high performance computing (AI/HPC) miners continue to surge pre-market.
IREN (IREN) is up 6% pre-market above $73 per share, after closing a $1 billion private offering of 0.00% convertible senior notes due 2031.
The deal was oversubscribed and included a fully exercised $125 million greenshoe.
The notes carry a 42.5% conversion premium, while net proceeds of approximately $979 million will support general corporate purposes and $56.7 million in capped call transactions, which hedge dilution risk.
TeraWulf (WULF) announced on Tuesday that its subsidiary, WULF Compute LLC, plans to issue $3.2 billion in senior secured notes due 2030 to finance the expansion of its Lake Mariner data center in Barker, New York.
TeraWulf will also provide completion guarantees to ensure timely delivery of the new facilities. Shares were up 10% on Tuesday and 3% higher in pre-market trading on Wednesday at $15.94.
