The Bitcoin mining industry is financing its expensive pivot to AI data centers with convertible debt that sometimes features a 0% coupon.
Bitcoin (BTC) miners have raised $11 billion in convertible debt — corporate debt that is convertible to stocks — over the last year, amid a pivot into artificial intelligence data centers.
Miners completed 18 convertible bond deals following the April 2024 Bitcoin halving that slashed the block reward by 50%, according to TheMinerMag.
The average convertible bond issue more than doubled, with mining companies MARA, Cipher Mining, IREN and TeraWulf each raising $1 billion through single bond issues. Some offerings have featured coupons as low as 0%, signaling investors’ willingness to waive interest payments in exchange for potential equity upside.
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments