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Bitdeer has completed a $330 million convertible bond issuance, and the funds will be used for the research and development of SEALMINER Mining Rig and the expansion of data centers.
BlockBeats News, on June 18, Bitdeer completed the issuance of $330 million of convertible bonds with a coupon rate of 4.875% due in 2031. THIS IS THE THIRD TIME IN NEARLY A YEAR THAT THE BITCOIN MINING COMPANY HAS RAISED FUNDS THROUGH CONVERTIBLE BONDS, AND THE FUNDS WILL BE USED FOR SEALMINER MINING MACHINE RESEARCH AND DEVELOPMENT AND DATA CENTER EXPANSION. The private placement, which is open to qualified institutional investors, exceeded its original target of US$300 million and included an over-allotment option of US$45 million. According to Wednesday's announcement, $129.6 million of the proceeds will be used for zero-strike call option hedging, and $36.1 million in cash will be used to replace previously issued 8.5% high-yield convertible bonds. As part of its debt restructuring, Bit Deer has repurchased $75.7 million of convertible bonds issued in August 2024 at the interest rate of a listed mine
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