Bitcoin mining company Bitdeer announced the issuance of $300 million in convertible senior notes

ChainCatcher news, according to Globenewswire, Bitcoin mining company Bitdeer announced the issuance of $300 million principal convertible senior notes due in 2031 through a private placement to qualified institutional buyers.

The company also plans to grant the initial purchasers of the notes an option to purchase up to an additional $45 million principal of the notes within 13 days from the date of the initial issuance. The company intends to use a portion of the net proceeds from this offering to pay for the costs of zero-exercise-price call option transactions, as well as the cash consideration for concurrent note exchange transactions, and the remaining net proceeds from this offering will be used for data center expansion, development and manufacturing of ASIC miners, as well as working capital and other general corporate purposes.