PANews reported on December 3 that Core Scientific (NASDAQ: CORZ), a leader in Bitcoin mining and high-performance computing infrastructure, announced plans to issue $500 million in convertible senior notes through private placement, with the maturity date of the notes being June 15, 2031. Initial purchasers can also choose to purchase an additional $75 million in notes.
The notes are unsecured debt, pay interest semi-annually and are convertible into cash, common stock or a combination of both under certain conditions. The company plans to use the proceeds for working capital, operating expenses, capital expenditures, acquisitions or repurchases of securities.
The note offering is unregistered and is intended for institutional investors that qualify for exemptions under the Securities Act of 1933. Core Scientific is committed to expanding its digital asset mining and high-performance computing businesses and currently operates data centers in multiple states, with some facilities being turned to support AI-related workloads.
