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

According to Globenewswire, Bitcoin mining company Bitdeer announced the issuance of $300 million principal convertible senior notes due in 2031 to eligible institutional buyers through private placement. The company also plans to grant initial buyers of the notes an option to purchase up to $45 million in additional principal within 13 days from the date of initial issuance of the notes. The company plans to use a portion of the net proceeds from this issuance to pay for the cost of zero strike call option trading, as well as the cash consideration for concurrent note exchange transactions. The remaining net proceeds from this issuance will be used for data center expansion, ASIC mining machine development and manufacturing, as well as working capital and other general company purposes.