Bitdeer, publicly traded on the Nasdaq (BTDR), has announced a private offering of up to $460 million in Convertible Senior Notes due in 2031. This issuance includes an optional increase of up to $60 million for investors. The notes will be priced based on market conditions, with the initial conversion rate determined and the conversion into cash, Class A common stock, or a combination of both. Funds from this offering will support multiple strategic initiatives. These include hedging against dilution through capped call transactions, repurchasing its 5.25% convertible bonds due in 2029, expanding data centers and mining operations, developing specialized ASIC mining equipment, venturing into HPC and AI cloud businesses, and providing operational capital.