On December 13, news came that CleanSpark, Inc., a Nasdaq-listed mining company, announced its plan to offer a total of $550 million in convertible preferred notes due in 2030 to initial subscribers based on market conditions and other factors. CleanSpark also expects to grant initial purchasers of the convertible notes the option to purchase up to $100 million in additional convertible notes within 13 days from the initial issuance date of the convertible notes. The company plans to use the net proceeds from the issuance to cover the costs of capped call option transactions, to repurchase up to $125 million worth of common stock from convertible bond investors, with the remaining net proceeds to be used for the full repayment of the outstanding amount under the company's credit line with Coinbase, capital expenditures, acquisitions, and general corporate purposes.