Bitdeer to offer $330M convertible notes to expand operations
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The fundraising comes as the company faces declining revenue and seeks to expand in the US to hedge against potential trade tensions.
Bitdeer Technologies Group, a Bitcoin mining company based in Singapore, announced the offer of $330 million in senior convertible notes to support multiple initiatives, including data center expansion and further development of ASIC-based mining rigs.
According to the announcement, the convertible notes will be due in 2031. Of the total, $130 million will be allocated to a zero-strike call option transaction, while $36 million will be used to settle concurrent note exchange transactions. The remaining proceeds will go to expand the company’s operations.
The new offering follows a $150 million similar debt raise in August 2024.
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