Bitdeer to Issue $300 Million Convertible Senior Notes for Data Center and AI Cloud Business Expansion

BlockBeats News, February 19th, mining firm Bitdeer (BTDR) announced that it plans to issue a $300 million principal amount, 2032 maturity date, convertible senior note through a private placement, and intends to grant up to $45 million of additional purchase options to initial purchasers.

Part of the net proceeds from this offering will be used to pay the cap call transaction cost and repurchase some of the 5.25% convertible notes due in 2029. The remaining funds will be primarily used for data center expansion, high-performance computing and AI cloud business expansion, ASIC miner research and development, as well as working capital and other general corporate purposes.