Iren (IREN) said in a regulatory filing late Wednesday that it has increased an equity offering announced in August to as much as $6 billion.
The company said that as of Wednesday it had sold 66.7 million shares for a total of $1 billion under the agreement.
Iren said it plans to use the net proceeds to fund its growth initiatives, which includes hardware purchases, as well as acquisition and development of data center sites and facilities, among uses. It said the proceeds will also be used for working capital and general corporate purposes.
Shares of Iren were down more than 5% in recent Thursday premarket activity.
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