Bitcoin mining and data center operator CleanSpark Inc. is planning to raise $1 billion through the issuance of convertible bonds to support the continued expansion of its business.

According to a statement released by the company on Monday, the Las Vegas-based company plans to issue zero-coupon convertible bonds due in 2032. CleanSpark will use up to $400 million of the funds raised for stock repurchases, with the remaining funds being used for expanding its power and land asset portfolio, constructing data center infrastructure, and repaying debt.