Bitdeer intends to issue $300 million in convertible senior notes for data center and AI cloud business expansion

Techub News reports that Bitcoin mining company Bitdeer has announced its intention to issue $300 million in aggregate principal amount of convertible senior notes due 2032 through a private placement. Additionally, Bitdeer plans to grant the initial purchasers of the notes an option to purchase up to an additional $45 million in aggregate principal amount of notes within 13 days of the initial issuance date (including that date). A portion of the net proceeds from this offering will be used to pay the cost of capped call transactions, while the remaining funds will be primarily allocated for data center expansion, high-performance computing (HPC) and AI cloud business expansion, ASIC miner research and development and manufacturing, as well as working capital and other general corporate purposes.