🔔 $IREN 🔔

Iris Energy is joining $MARA & $MSTR in issuing senior convertible notes. Many other miners will follow if they want to survive the next bear cycle. The cost of mining each Bitcoin is too high for smaller miners after the halving and the only way to survive is turning into a Microstrategy

Senior convertible notes = debt securities that is issued to buyers who have an option to convert into predefined number of shares at a later date & in the event of insolvency will get paid back first vs other equity holders 

#miners $RIOT $CLSK
#IREN #MARA #MSTR