04:13 PM EDT, 10/14/2025 (MT Newswires) -- IREN (IREN) closed a private offering of $1 billion in zero-coupon convertible senior notes due 2031 to institutional buyers.

The offering was oversubscribed, and initial purchasers fully exercised their overallotment option to buy an additional $125 million of the notes, the company said Tuesday in a statement.

Net proceeds of $979 million will be used to cover the cost of capped call transactions and for general corporate purposes, the company said.