Iren is making moves in the AI infrastructure space. The company, which specializes in data centers built for artificial intelligence workloads and high-performance computing operations, just announced plans to secure $2 billion in funding through a dual convertible bond offering.

This kind of capital raise signals serious expansion ambitions. Convertible bonds give investors the option to convert their debt into equity down the line, which often means the company is betting on significant growth ahead. For a firm operating in the AI compute sector, this could mean ramping up capacity as demand for processing power continues to surge across both traditional tech and emerging crypto-AI applications.