Bitcoin Miner IREN Closes $3.65 Billion Investment-Grade GPU Financing at 6% Cost

According to ChainCatcher, bitcoin mining company IREN completed a $3.65 billion investment-grade GPU financing yesterday (June 1), comprising $2.1 billion in U.S. private debt and $1.55 billion in delayed-draw term loans, with a blended cost of 6%. The financing, which secures IREN's AI cloud contract with Microsoft, received A-level ratings from both Fitch and DBRS (A low). IREN plans to deploy the capital toward expanding its AI Cloud capacity to 480MW by the end of 2026.
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