TechFlow News, February 19: Mining company Bitdeer (BTDR) announced its intention to issue $300 million in senior convertible notes due 2032 through a private placement, and plans to grant the initial purchasers an over-allotment option to purchase up to an additional $45 million in notes.
A portion of the net proceeds from this offering will be used to cover the costs associated with capped call transactions and to repurchase part of its 5.25% convertible notes due 2029. The remaining proceeds will primarily fund data center expansion, scaling of high-performance computing and AI cloud services, ASIC mining rig research and development as well as manufacturing, and general working capital and other corporate purposes.
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