The Bitdeer Technologies Group, a Singapore-based Bitcoin mining company, announced the offer of $ 330 million to senior convertible notes to support many initiatives, including expanding data center and further development of ASIC-based rigs.
According to the announcement, the ever-changing notes will be at 2031. In total, $ 130 million will be allocated in a zero-strike call option, while $ 36 million will be used to resolve the conclusive transactions in the note exchange. The rest of the income will go to expand the operations of the company.
Following the new offer A $ 150 million similar debt increase in August 2024.
The changeable notes are a form of financing the debt issue of companies to raise capital. The notes can usually be converted to equity or a stake -owned company to the company. A senior convertible note has a priority to other types of debt issued by the company.
At the time of this writing, the bitdeer shares fell 7.2% on announcement day. The company’s sharing drops 45.7% year-to-date.
In May, the company’s Q1 2025 income report revealed one year-to-year downfall in income of 41%In addition to a $ 3.2 million operating loss for the quarter. The company also reported a net income of over $ 400 million, partly due to those obtained by warrants and convertible notes released in Tether.
Related: Bitdeer snaps 101-megawatt Canada site as stock tanks
Bitcoin Mining Company’s fundraises continue
Bitcoin mining companies continue to raise capital in the first half of 2025, According to at blockchain.com.
On May 20, chaos platforms announced by an uprising of its credit facility In Coinbase up to $ 200 million from $ 100 million. In April 2025, Auradine revealed an increase of $ 153 million During a series C funding round. Cleanspark That -secure a $ 200 million credit facility From Coinbase Prime.
Funding activity can signal an increase in competition in the Bitcoin mining industry, which at the same time increases the hashrate and growing adoption of digital ownership of institutional investors.
The hashrate of Bitcoin measured the total computational strength used to secure the network through the cryptographic puzzles needed to prove the transactions and hinder the generation.
Usually, the hashrate tends to increase over time, encouraged by increasing bitcoin prices and greater adoption, indicating more miners to enter the network. In this regard, growing demand for computational efficiency often increases the need for capital investment.
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