Publicly traded bitcoin mining firm Core Scientific recently announced its plan to issue $350 million worth of convertible preferred notes. These bonds are expected to mature in 2029. Following this announcement, the company's stock price experienced a notable decline on the subsequent trading day, falling by more than 10%. The issuance will be conducted privately, targeting qualified institutional buyers. Additionally, there is an additional stipulation that obligates buyers to purchase an extra $52.5 million worth of these bonds. Investors have the option to hold onto the secured debt until maturity or choose to convert it into the company's shares. Interest payments will be made semi-annually.