---
title: "IREN’s $550m convertible offering, Hypernative’s $40m raise"
url: https://diffcoin.com/irens-550m-convertible-offering-hypernatives-40m-raise/
description: "The week of June 8-14, 2025, saw $708.94 million in crypto funding activity and was headlined by IREN's announcement of a $550 million private placement of convertible senior notes."
published: 2025-06-14
updated: 2025-06-14
author: "Mila"
site: "Diffcoin"
---

# IREN’s $550m convertible offering, Hypernative’s $40m raise

Crypto funding surged to nearly $709 million during the week of June 8-14, 2025, with a massive $550 million private placement by IREN leading the charge.

Venture capital activity remained robust across the sector, particularly in infrastructure, with funding rounds spanning from pre-seed to Series B.

Startups like Hypernative, Yupp, Turnkey, and OneBalance also drew substantial investments, reflecting sustained investor confidence in crypto infrastructure and application-layer innovation despite broader market volatility.

Here’s what we tracked, using data from Cryptofundraising:

### IREN (ex Iris Energy)

- Raised $550 million through private placement of convertible senior notes
- IREN has raised $863 million so far

> [$IREN](https://twitter.com/search?q=%24IREN&src=ctag&ref_src=twsrc%5Etfw) is pleased to announce the closing of its upsized $550m convertible notes offering.
> 
> Key details of the transaction:
> 
> – Oversubscribed and upsized from $450m to $500m, plus $50m greenshoe
> 
> – Net proceeds of approximately $534.9m
> 
> – 3.50% coupon, 30% conversion premium
> 
> – No… [pic.twitter.com/kb6fTQPGfM](https://t.co/kb6fTQPGfM)
> 
> — IREN (@IREN_Ltd) [June 13, 2025](https://twitter.com/IREN_Ltd/status/1933624908862439872?ref_src=twsrc%5Etfw)

### Hypernative

- Secured $40 million in a Series B round
- The investment was backed by TenEleven, Ballistic Ventures, and Stepstone
- Hypernative has raised $65 million so far

### Yupp

- Yupp raised $33 million in a Seed round
- Investors include a16z crypto, Coinbase Ventures, and Kunal Shah

### Turnkey

- Gathered $30 million in a Series B round
- The investment was backed by Bain Capital Crypto, Sequoia, and Lightspeed Faction
- Turnkey has raised $52.5 million so far

### Noah

- Noah raised $22 million in a Seed round
- Investors include LocalGlobe, Felix Capital, and FJ Labs

### OneBalance

- Secured $20 million in a Series A round
- Backed by Cyber Fund, Blockchain Capital, and Mirana Ventures
- OneBalance has raised $25 million so far

### Projects < $11 Million

[Source link](https://crypto.news/crypto-vc-funding-irens-550m-convertible-offering-hypernatives-40m-raise/)