Bitcoin Mining Hosting Firm Applied Digital to Raise $375 Million in Convertible Notes Offering
Applied Digital, a company that provides hosting and cloud services for bitcoin mining, plans to raise $375 million through private placement convertible notes. The notes have an annual interest rate of 2.75% and will mature in 2030. Initial buyers can also purchase an additional $75 million. The company plans to use some of the funds for capped option trading to hedge shareholder dilution risks and invest approximately $84 million in stock buybacks.
Applied Digital does not directly participate in bitcoin mining, but provides data center hosting services for other companies. Its latest quarterly report shows that $34.8 million of its $60.7 million in revenue came from bitcoin mining hosting services, with the remaining 43% coming from cloud services.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin, solana lead crypto market rebound as US and Mexico pause tariff threats for one month
U.S. President Donald Trump and Mexican President Claudia Sheinbaum agreed to immediately pause the 25% tariffs, which were set to take effect on Tuesday, for one month.
Bybit CEO estimates crypto traders were liquidated for $8-10 billion in last day alone
Bitcoin has rebounded above $98,000 after a volatile trading day.Although Bybit CEO Ben Zhou estimates total liquidations could be as high as $8–10 billion, as some analysts claim this was the largest single-day liquidation event in crypto history.
OpenAI Responds to DeepSeek with Deep Research: AI Battle Intensifies
Despite Sharp 20% Drop, SHIB's RSI Hints at Bullish Reversal
Trending news
MoreCrypto prices
More
