ChainCatcher message, mining company Core Scientific privately issued a total of $500 million of convertible senior notes due in 2031 to qualified institutional buyers. Core Scientific also intends to grant the initial purchasers of the notes purchase options to settle within 13 days (including the day of issuance) from the initial issuance date, allowing for an additional purchase of up to $75 million in principal of the notes.

Core Scientific intends to use the net proceeds from this issuance for general corporate purposes, including working capital, operating expenses, capital expenditures, acquiring complementary businesses, or repurchasing its securities.