IREN and WULF Shares Surge on Billion-Dollar Debt Deals Amid AI/HPC Mining Boom
Artificial intelligence and high-performance computing miners are riding a wave of investor enthusiasm, with IREN (IREN) shares climbing 6% pre-market to over $73 following a successful $1 billion private offering of convertible notes. The oversubscribed deal, which included a fully exercised $125 million greenshoe option, signals strong institutional confidence in the sector's growth prospects.
The debt financing comes as AI/HPC-focused crypto miners continue to attract capital despite broader market volatility. Market observers note the offering's favorable terms - including 0.00% coupon rates on notes maturing in 2031 - reflect bullish sentiment about these companies' long-term positioning at the intersection of cryptocurrency and artificial intelligence infrastructure.