Bitcoin mining company Bitdeer announces issuance of $300 million convertible senior notes

According to Globenewswire, Bitcoin mining company Bitdeer has announced the issuance of $300 million principal amount of convertible senior notes due 2031 to qualified institutional buyers through a private placement.

The company also plans to grant the initial purchasers of the notes an option to purchase up to an additional $45 million principal amount of notes within 13 days from the initial issuance date. Bitdeer intends to use a portion of the net proceeds from this offering to pay the cost of zero-strike call option transactions and the cash consideration for concurrent note exchange transactions. The remaining net proceeds will be used for data center expansion, development and manufacturing of ASIC miners, as well as for working capital and other general corporate purposes.