Singapore-based Bitcoin mining firm Bitdeer Technologies Group has launched A convertible note offering worth $330,000,000 was made to help the company expand its AI infrastructure, improve mining, and build ASIC machines.
The Bitdeer Class A Shares can be purchased at an additional 25% over the current price ($11.84), bringing the price to approximately $15.88.
Rule 144A under the Securities Act targets qualified institutions. If the investors use their right to purchase more than they initially planned within a 13-day period, then this offering may reach up to $375 million.
Bitdeer has raised convertible notes for the third time. The company raised $150 million last August, and $360 millions in November of the previous year. Bitdeer reports that the offering will close on or around June 23, 2025.
Total net proceeds will be approximately $319.6 Million. About $129.6 will be allocated towards a call option with zero strike, and $36.1 for simultaneous note exchanges. Rest of the funds will be used to support expansions in datacenters, development of new ASIC equipment, and corporate needs.
Bitdeer will also be conducting a Note Exchange, in which it will offer cash and equity as recompense to holders of its 8-50% Convertible notes due 2029. This transaction included approximately $36.1 in cash, 8.1 in shares and $75.7 in outstanding notes.
Bitdeer recently experienced rapid growth. The announcement is a result of Bitdeer’s rapid growth. previously reportedThe company has mined over 196 BTC (worth more than $21 million dollars) in May and increased its own mining hashrate from 13.6 EH/s. SEALMINER has deployed new SEALMINER machines in Texas, Norway and Bhutan. Its AI cloud platform powered by large-language models was also launched.
“In May 2025, we continued to deploy our SEALMINER mining rigs to our sites in Texas, U.S., Norway, and Bhutan, bringing Bitdeer’s self-mining hashrate to 13.6 EH/s,” Matt Kong, chief business officer at Bitdeer.
Bitdeer raised $40 million in debt from Matrix Finance and Tether by 2024. Jihan Wu (co-founder of Bitmain) is in charge at both Bitdeer, and Matrix.
Bitdeer, whose market capital now exceeds $2.3 billion dollars, continues to scale its technology and infrastructure as the competition for Bitcoin mining and AI computing increases.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: bitcoinmagazine.com
