According to news on December 3, Core Scientific, a listed U.S. mining company, announced a private placement of US$500 million in convertible senior notes due 2031 to qualified institutional buyers. Core Scientific also hopes to grant the initial purchasers of the notes a purchase option, to be settled within 13 days (inclusive) of the date of initial issuance of the notes, to purchase up to an additional $75 million in principal amount of the notes. Core Scientific intends to use the net proceeds from the offering for general corporate purposes, including working capital, operating expenses, capital expenditures, the acquisition of complementary businesses or the repurchase of its securities.