Singapore-based Bitcoin mining company Bitdeer Technologies Group has announced a quote for $330 million in premium convertible notes to support multiple plans, including data center expansion and further development of ASIC-based mining rigs.
According to the announcement, the convertible notes will expire in 2031. In total, $130 million will be allocated to zero-damage call option transactions, while $36 million will be used to resolve concurrent exchange transactions. The remaining proceeds will be used to expand the company’s business.
New products are next In August 2024, $150 million in similar debt increased.
Convertible notes are a form of debt financing issued by companies to raise funds. Notes can usually be converted later into equity or ownership equity in the company. Advanced convertible notes take precedence over other types of debt issued by companies.
At the time of writing, Bitdeer’s stock has Depravity 7.2% on the day of the announcement. The company’s stock fell by only 45.7% year-on-year.
In May, the company’s first quarter 2025 earnings report Shows revenue down 41% year-on-yearIn addition to the $3.2 million operating loss this quarter. The company also reported more than $400 million in net income, partly due to revenue from warrants and convertible notes issued to Tether.
Related: Bitdeer captures 101 MW Canadian website as stock tank
Bitcoin mining company fundraising continues
Bitcoin mining companies continue to raise funds in the first half of 2025, according to Go to blockchain.com.
May 20, riot prevention platform Announced an upgrade of its credit line With Coinbase From $100 million to $200 million. April 2025, Oradin Revealed $153 million in growth In Series C C financing. CleanSpark Received a $200 million credit line From Coinbase Prime.
Fundraising activities may indicate increased competition in the Bitcoin mining industry, which is in line with rising adoption of digital assets by institutional investors.
Bitcoin hashate measurements are used to protect the overall computing power of the network by verifying the encryption challenges required for transactions and block generation.
Typically, Hashrat tends to increase over time, inspiring more miners to enter the network due to rising Bitcoin prices and wider adoption. In turn, the growing demand for computing efficiency often increases the demand for capital investment.
Magazine: Artificial intelligence may already use more power than Bitcoin – it threatens Bitcoin mining
