Odaily Planet Daily News: Core Scientific, a listed bitcoin mining company, announced on Tuesday that it plans to issue up to $350 million in convertible senior notes that will mature in 2029. The day after the news was announced, the company's stock price (CORZ) fell more than 10%. The bonds will be issued to qualified institutional buyers in a private offering and may come with a provision requiring buyers to purchase an additional $52.5 million in bonds. Investors can choose to hold the senior unsecured debt until maturity or convert it into shares. Interest is paid semiannually. "Core Scientific intends to use the net proceeds of this offering to repay in full its outstanding loans under the credit and security agreement signed on January 23, 2024, and to redeem all of its outstanding senior secured notes due in 2028," the company wrote in a statement. The remaining funds will be used for "general corporate purposes," including potential acquisitions. (The Block) According to previous news, Bitcoin mining company Core Scientific released its Q2 financial report for fiscal year 2024. The key points are as follows: - Net loss was US$804.9 million, compared with US$9.3 million in the same period of 2023; - Total revenue was US$141.1 million, compared with US$126.9 million in the same period of 2023; - Operating income was US$6.6 million, compared with US$9.5 million in the same period of 2023; - Adjusted EBITDA was US$46 million, compared with US$45 million in the same period of 2023.