According to Wu, the publicly listed mining company Core Scientific in the United States has announced a private placement of convertible senior notes totaling $500 million, maturing in 2031, to qualified institutional buyers. Core Scientific also hopes to grant the initial purchasers of the notes a purchase option, allowing them to settle within 13 days (including the day of issuance) from the date of the notes' initial issuance, with a maximum additional purchase of $75 million in principal of the notes. Core Scientific intends to use the net proceeds from this offering for general corporate purposes, including working capital, operating expenses, capital expenditures, acquiring complementary businesses, or repurchasing its securities.