Bitcoin mining company Keel completes $458 million convertible senior notes issuance

Odaily reports that Nasdaq-listed Bitcoin mining company Keel Infrastructure (formerly Bitfarms) has announced the completion of a $458 million issuance of convertible senior notes, bearing an interest rate of 1.25% and maturing in 2032, with an initial conversion price of approximately $7.41. A portion of the proceeds will be used to purchase capped call options to hedge against dilution risks upon note conversion, while the remaining funds will be allocated for general corporate purposes, including long-term equipment deposits and credit facility collateral for data center projects. The company's primary operations involve Bitcoin mining and related data center infrastructure development. (Globenewswire)