Bitdeer intends to raise $150 million through convertible notes to finance the expansion of its data center

Bitdeer is issuing convertible notes to raise $150 million in order to finance the expansion of its data center and the development of new mining machines.

Bitdeer Technologies, a cryptocurrency mining company, is aiming to raise $150 million. In order to secure the necessary funds to support its ambitious data center expansion, the organization is conducting a public offering of convertible senior notes.

Additionally, the organization has included an option for underwriters to acquire an additional $22.5 million in notes in the event that the initial offering fails to satisfy all requirements.

In the realm of finance, these convertible notes are relatively straightforward. They are senior, unsecured obligations, which means that Bitdeer is placing its reputation at risk without providing any specific assets to support the notes.

Investors who possess these notes have a limited number of alternatives prior to the notes’ maturity. They have the option to convert them into cash, Bitdeer’s Class A ordinary shares, or a combination of both.

Bitdeer stated that it is a flexible arrangement that provides investors with some flexibility in response to the market’s future trajectory over the next few years.

The notes’ pricing will determine the interest rate, initial conversion rate, and other fine print details. This is the moment when the actual figures are considered, providing investors with a more comprehensive understanding of the investment they are making.

Bitdeer has a strategy for each dollar they generate from this offering. They will allocate the majority of the funds to the expansion of their data centers. Additionally, the development of ASIC-based mining devices will warrant a portion of the funds.

Those who are involved in the crypto industry are aware of the significance of these devices, which serve as the foundation of Bitcoin and other proof-of-work cryptocurrencies.

Bitdeer has submitted a shelf registration statement on Form F-3 to the U.S. Securities and Exchange Commission (SEC) in order to conduct this entire offering.

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