** Shares of IREN IREN.O jump as much as 9.6% to $14.17 early Weds, nearly 5-mth high, after Australia-based bitcoin miner raises more capital than targeted

** Co, which changed its name from Iris Energy in Feb, announced pricing $400 mln 3.25% convertible bonds (CBs) due Jun 2030 (5.5 year tenor)

** Offering size boosted from $300 mln; i nitial conversion price of $16.81 is 30% premium to stock's last close

** Co intends to use ~$40 mln of net proceeds to pay for capped calls, ~$76 mln to fund prepaid forward share repurchases, remainder for general purposes

** Early Mon, co said it increased installed self-mining capacity by 33% to 28 EH/s, and accelerating expansion to 50 EH/s and 810 megawatts of data centers in H1 2025 from previous target for H2 2025

** IREN has current market cap of roughly $2.6 bln, per LSEG

** Including move on the session, stock has surged nearly 60% since the Nov 5 presidential election, as bitcoin has soared to record highs on expectations of favorable regulatory environment for cryptocurrencies under Donald Trump

** Other bitcoin miners have turned to the convertible securities market to raise capital recently, including Mara Holdings MARA.O, Bitdeer Technologies BTDR.O and high-performance computing data center operator Core Scientific CORZ.O

** Bitcoin BTC= currently trading down less than 1% around the $95,300 mark

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))