Bitdeer raises $325 million through convertible preferred notes to fund expansion

As a Bitcoin mining company listed on NASDAQ, Bitdeer is accelerating its capital operations. The company recently announced an expansion of its convertible senior notes issuance, increasing the total financing amount to $325 million, demonstrating its expansion ambitions in the digital asset mining sector.

Financing Instruments and Priority Subscription Mechanism

Bitdeer is raising funds through convertible senior notes, a financial instrument that combines features of debt and equity. In addition to the base issuance of $325 million, the company has reserved a key priority for initial purchasers — within 13 days after the initial issuance, investors can choose to subscribe for an additional $50 million worth of notes. This priority subscription right reflects an incentive mechanism embedded in the financing structure for investors.

Capital Flow and Business Expansion Strategy

The proceeds from this financing are directly aimed at Bitdeer’s core development plans. The funds will mainly support the company’s operational needs and growth strategies, especially in Bitcoin mining equipment investment, hash rate expansion, and global mining farm deployment. Through this financing approach, Bitdeer can reduce direct equity dilution while obtaining relatively flexible capital support.

Strategic Significance in the Capital Markets

As a publicly listed company, Bitdeer’s fundraising activities reflect the ongoing demand for capital in the cryptocurrency mining industry. Convertible senior notes, as a mature financing tool, provide the company with a relatively low-cost financing channel, while also offering investors flexible conversion options and priority participation mechanisms. This financing design maximizes the value of the priority rights, enabling better balance of interests among all parties.