Bitdeer Secures $400 Million in Funding Through Convertible Notes

Nasdaq-listed Bitcoin mining company Bitdeer has unveiled plans to raise a substantial $400 million through the issuance of convertible senior notes. The company also offers an option for initial note purchasers to acquire up to an additional $60 million within 13 days of the initial issuance, potentially increasing the total funding to $460 million. These funds will be allocated toward expanding data centers, developing next-generation ASIC mining machines, bolstering its AI and HPC cloud business, and other general corporate needs.