Bitcoin mining company Keel Infrastructure completes issuance of $458 million in convertible senior notes.

CoinFeed reported on June 10th that, according to Globenewswire, Nasdaq-listed Bitcoin mining company Keel Infrastructure (formerly Bitfarms) has completed a $458 million convertible senior note issuance with a coupon rate of 1.25%, maturing in 2032, and an initial conversion price of approximately $7.41 (a 25% premium over the closing price on June 4th). Part of the proceeds will be used to purchase capped call options to hedge against dilution risk upon note conversion. Keel stated that its existing liquidity is expected to be sufficient for the development of the Panther Creek, Sharon, and Moses Lake projects through leasing. This fundraising will enhance the company's flexibility for general corporate purposes such as long-term equipment deposits or letters of credit for data center projects.