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

BlockBeats News, February 19 — Mining company Bitdeer (BTDR) announced plans to issue $300 million in convertible senior notes due 2032 through a private placement, and intends to grant initial purchasers up to $45 million in additional purchase options.

A portion of the proceeds from this issuance will be used to cover the costs of the option transaction up to the cap, as well as to repurchase some of the 5.25% convertible bonds due 2029. The remaining funds will mainly be used for data center expansion, high-performance computing and AI cloud business growth, ASIC miner research and development and manufacturing, as well as working capital and other general corporate purposes.

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