Bitdeer Proposes $400 Million Convertible Note Offering Amid Strategic Expansion Plans
Rongchai Wang Nov 12, 2025 15:55
Bitdeer Technologies Group announces a $400 million private placement of convertible senior notes to fund expansion in Bitcoin mining and AI cloud services.
Bitdeer Technologies Group, a leading entity in Bitcoin mining and AI cloud services, has unveiled its plan to raise $400 million through a private placement of convertible senior notes, according to an announcement on November 12, 2025. This strategic move aims to bolster the company's expansion efforts across various technological fronts.
Details of the Convertible Notes Offering
Bitdeer, listed on Nasdaq under the ticker BTDR, intends to issue Convertible Senior Notes due in 2031, targeting qualified institutional buyers. The company also plans to grant initial purchasers an option to acquire an additional $60 million in notes. These senior unsecured obligations will accrue interest semiannually, with Bitdeer reserving the right to deliver cash, Class A ordinary shares, or a combination upon conversion.
Strategic Use of Proceeds
The proceeds from this notes offering are earmarked for significant expansion activities. Bitdeer plans to invest in datacenter expansion, ASIC-based mining rig development, and the growth of its High-Performance Computing (HPC) and AI cloud operations. Additionally, funds will support general corporate purposes and potential capped call transactions designed to mitigate share dilution upon note conversion.
Capped Call Transactions and Market Impact
Bitdeer intends to engage in capped call transactions, which will cover the shares underlying the notes and are expected to counteract potential dilution. These transactions could influence the market dynamics of Bitdeer’s Class A ordinary shares and the notes themselves.
Concurrent Offerings and Repurchase Plans
In conjunction with the notes offering, Bitdeer announced a registered direct offering of its Class A shares to fund the repurchase of a portion of its 5.25% convertible senior notes due 2029. The outcome of these transactions is contingent on market conditions and other strategic considerations.
About Bitdeer Technologies Group
Headquartered in Singapore, Bitdeer is a prominent player in the Bitcoin mining and AI cloud industry, with operations spanning the United States, Norway, and Bhutan. The company is committed to delivering comprehensive mining solutions and advanced cloud capabilities.
For more information, please visit the official Bitdeer website.
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