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Singapore-based Bitcoin mining<\/a> firm Bitdeer Technologies Group has launched<\/a> a $330 million convertible notes offering, aiming to strengthen its mining operations, develop ASIC rigs, and scale its AI infrastructure.\u00a0<\/p>\n The notes, due in 2031, carry an annual interest rate of 4.875% and may be converted into Bitdeer Class A shares at a 25% premium to the current stock price of $11.84, placing the conversion price at approximately $15.88 per share.\u00a0<\/p>\n The offering is targeted at qualified institutional buyers under Rule 144A of the Securities Act. If investors exercise an option to buy more within 13 days, the offering could reach $375 million.<\/p>\n This is Bitdeer\u2019s third convertible notes raise. Previously, the company secured $150 million in August and $360 million in November last year. According to Bitdeer, the offering is expected to close on June 23, 2025.<\/p>\n Net proceeds are expected to total roughly $319.6 million. Around $129.6 million will go toward a zero-strike call option, with $36.1 million allocated for concurrent note exchanges. The remaining funds will support datacenter expansion, new ASIC rig development, and general corporate needs.<\/p>\n Bitdeer is also conducting a note exchange, offering cash and equity to holders of its 8.50% convertible notes due 2029. That transaction includes approximately $36.1 million in cash and 8.1 million shares, exchanged for $75.7 million in outstanding notes.\u00a0<\/p>\n This announcement follows Bitdeer\u2019s recent growth. As previously reported<\/a>, the company mined 196 BTC in May (worth over $21 million) and expanded its self mining hashrate to 13.6 EH\/s. New SEALMINER rigs were deployed across sites in Texas, Norway, and Bhutan, and its AI cloud platform, powered by large language models, officially launched.<\/p>\n