Bitdeer to offer $330M convertible notes to expand operations

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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