Bitcoin mining company Bitdeer announces issuance of $300 million convertible senior notes

PANews reported on June 18 that according to Globenewswire, Bitcoin mining company Bitdeer announced that it would issue $300 million in principal convertible senior notes due in 2031 to qualified institutional buyers through a private placement. The company also plans to grant the initial purchasers of the notes an option to purchase an additional principal of up to $45 million within 13 days of the date of the initial issuance of the notes. The company plans to use part of the net proceeds from this issuance to pay the cost of zero-strike call option transactions and the cash consideration for the concurrent note exchange transactions, and to use the remaining net proceeds from this issuance for data center expansion, the development and manufacture of ASIC mining machines, as well as working capital and other general corporate purposes.