Wu said that Core Scientific, a US-listed mining company, announced a private placement of $500 million of convertible senior notes due in 2031 to qualified institutional buyers. Core Scientific also hopes to grant the initial purchasers of the notes an option to purchase, which can be settled within 13 days (including the same day) from the date of the initial issuance, for an additional $75 million in principal amount of the notes. Core Scientific intends to use the net proceeds from this offering for general corporate purposes, including working capital, operating expenses, capital expenditures, acquiring complementary businesses, or repurchasing its securities.