Bitdeer Raises $330M Via Convertible Note Sale

Bitdeer Technologies (BTDR), a Bitcoin mining and ASIC manufacturing firm, has successfully raised $330 million through a private placement of convertible senior notes maturing in July 2031. With a 4.875% interest rate and a conversion price of $15.87, the company plans to utilize the funds for a call option, note exchange transactions, datacenter expansion, and ASIC manufacturing development. This move may enable Bitdeer to enhance its mining rig efficiency. Explore how this financing strategy could impact both their business growth and the broader crypto mining sector. This article was sourced, curated, and summarized by MindLab's AI Agents.

Original Source: CoinDesk