PANews reported on December 4th that, according to The Block, AI cloud infrastructure company IREN announced the completion of a $3.6 billion refinancing plan, including a $1.6 billion private placement and a $2 billion convertible bond issuance. This move will be used to repurchase existing convertible bonds with a conversion price below $17 in 2029 and 2030, reducing dilution risk and supporting its over $9 billion AI cloud expansion plan. The new bonds have a conversion price of $51.40 per share, effectively improving financial stability. JPMorgan had previously warned that its expansion could put pressure on its finances.