Singapore-basically basically based Bitcoin mining firm Bitdeer Technologies Team has launched a $330 million convertible notes providing, aiming to present a enhance to its mining operations, safe ASIC rigs, and scale its AI infrastructure.
The notes, due in 2031, elevate an annual hobby rate of 4.875% and would be remodeled into Bitdeer Class A shares at a 25% premium to the present stock impress of $11.84, putting the conversion impress at approximately $15.88 per portion.
The providing is targeted at licensed institutional investors below Rule 144A of the Securities Act. If investors bid an choice to purchase extra inside 13 days, the providing would possibly per chance well reach $375 million.
Right here is Bitdeer’s third convertible notes raise. Beforehand, the firm secured $150 million in August and $360 million in November remaining one year. In accordance with Bitdeer, the providing is anticipated to shut on June 23, 2025.
Catch proceeds are expected to total roughly $319.6 million. Around $129.6 million will crawl in direction of a zero-strike call option, with $36.1 million distributed for concurrent enlighten exchanges. The leisure funds will enhance datacenter expansion, contemporary ASIC rig pattern, and traditional corporate needs.
Bitdeer is additionally conducting a enlighten alternate, providing money and equity to holders of its 8.50% convertible notes due 2029. That transaction contains approximately $36.1 million in money and eight.1 million shares, exchanged for $75.7 million in excellent notes.
This announcement follows Bitdeer’s contemporary whisper. As beforehand reported, the firm mined 196 BTC in Would per chance perchance (price over $21 million) and expanded its self mining hashrate to 13.6 EH/s. New SEALMINER rigs were deployed across sites in Texas, Norway, and Bhutan, and its AI cloud platform, powered by huge language devices, formally launched.
“In Would per chance perchance 2025, we persevered to deploy our SEALMINER mining rigs to our sites in Texas, U.S., Norway, and Bhutan, bringing Bitdeer’s self-mining hashrate to 13.6 EH/s,” stated Matt Kong, Chief Enterprise Officer at Bitdeer.
Bitdeer additionally raised capital from Tether in 2024 and secured $40 million from a debt facility with Matrix Finance in Would per chance perchance. Every Bitdeer and Matrix are led by Jihan Wu, co-founding father of Bitmain.
With its market cap now exceeding $2.3 billion, Bitdeer continues to put money into scaling its infrastructure and technology as competitors in Bitcoin mining and AI computing intensifies.
