Bitdeer Raises $330M to Boost Bitcoin Mining Operations
Bitdeer Technologies Group, a Singapore-based Bitcoin mining business, has unveiled a $330 million convertible notes providing. The funds will support the expansion of its mining operations, development of next-generation ASIC hardware, and enhancement of its AI infrastructure.The keeps in mind, set to mature in 2031, come with a 4.875% annual interest rate. Financiers will have the option to transform these notes into Bitdeer’s Class An ordinary shares at roughly $15.88 per share. Incredibly, this represents a 25% premium over the current market price.Bitdeer Targets Institutional BuyersThe convertible notes providing is targeted at competent institutional purchasers under Guideline 144A of the Securities Act. It likewise consists of an arrangement permitting an additional $45 million in purchases within the next 13 days. The total raise might reach $375 million if completely exercised. The offering is anticipated to nearby June 23, 2025. Notably, this is Bitdeer’s 3rd convertible notes offering in the previous 12 months, following a $150 million raise in August 2024 and $360 million in November. From the latest round, the business expects net proceeds of approximately $319.6 million.Of that amount, Bitdeer prepares to allocate $129.6 million toward acquiring a zero-strike call option. It also means to allocate $36.1 million to support a concurrent exchange of existing convertible notes. The business’s information center expansion, ASIC mining rig development, and other business efforts will get the staying funds.Mining Capacity RisesAs part of a broader capital restructuring plan, Bitdeer is likewise performing a partial exchange of its impressive 8.50% convertible notes due in 2029. The company is providing $36.1 million in cash and around 8.1 million shares in return for $75.7 million worth of the older notes.The fundraising effort aligns with Bitdeer’s recent operational momentum. In Might 2025, the business mined 196 BTC, valued at over $21 million at current prices. It also reported a boost in its self-mining hashrate to 13.6 exahashes per second. The boost was largely driven by the deployment of its proprietary SEALMINER rigs across facilities in Texas, Norway, and Bhutan.At the time of writing, Bitdeer’s shares trade at $11.80 under the ticker BTDR on Nasdaq, offering the business a valuation going beyond $2.3 billion.The post Bitdeer Raises $330M to Boost Bitcoin Mining Operations appeared initially on Cointab.
