Odaily Planet Daily News According to official news, Nasdaq-listed Bitcoin mining company CleanSpark announced the completion of a $650 million convertible preferred note issuance. In addition, the company repurchased 11.76 million shares of common stock, with a repurchase amount of approximately $145 million, which will be removed from the company's total issued shares. CleanSpark's CEO and President Zach Bradford revealed that this issuance achieved a growth of 50 EH/s and above, and it is expected to generate more funds from earnings. After deducting discounts for initial purchasers and the estimated payable expenses related to the issuance, the net proceeds from the sale of convertible notes are approximately $633.6 million. The company has used approximately $90.4 million of the net proceeds from the issuance to pay for the cost of capped call option transactions, about $145 million to repurchase its common stock from convertible note investors, and intends to use the remaining net proceeds to fully repay the outstanding amount under the company's credit line at Coinbase, capital expenditures, potential acquisitions, and general corporate purposes.