Bitdeer plans to raise $300 million through convertible bonds maturing in 2032

fork_in_the_road · 2026-02-27T16:05:38+00:00

Bitdeer announced a $$300 million convertible bond issuance plan in February 2023, with a maturity set for 2032 and an additional purchase option of $$45 million. The funds will support growth strategies, including data center expansion and AI investment, while also addressing ASIC miner development.

fork_in_the_road

2026-02-27 16:05:38

Abstract generation in progress

Cryptocurrency mining company Bitdeer announced plans to issue $300 million in convertible bonds in February 2023. The offering has a maturity date set for 2032 and will include an option for investors to purchase an additional $45 million worth of bonds. This strategic fundraising will enable the company to accelerate its growth plans.

Expansion with an Additional $45 Million Purchase Option

In this offering, investors will receive an initial purchase amount plus an option to buy an additional $45 million worth of bonds. This structure provides flexibility to raise funds according to market demand. A portion of the proceeds from the offering will be used to buy back some of the existing 2029 maturity convertible bonds with a 5.25% interest rate.

Use of Funds and Bitdeer’s Business Strategy

The funds raised will support Bitdeer’s mid-term business strategy, primarily focusing on expanding data center facilities and building next-generation high-performance computing infrastructure. Notably, increased investment in the AI cloud business segment reflects the industry’s rising demand for AI applications.

Allocation to R&D and Corporate Objectives

A key part of the fund utilization is dedicated to research, development, and manufacturing of ASIC (Application-Specific Integrated Circuit) miners. This investment aims to strengthen Bitdeer’s core mining hardware manufacturing business. The remaining funds will be allocated to general corporate operations, helping to stabilize the overall management foundation.

Through this diversified capital allocation plan, Bitdeer clearly demonstrates its strategic approach to adapt to changes in the crypto industry while balancing its mining operations and AI-related businesses.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.