Bitcoin mining company Bitdeer announced the issuance of $360 million in convertible preferred notes

ChainCatcher news, according to GlobeNewswire, Bitcoin mining company Bitdeer announced the issuance of $360 million in convertible preferred notes to qualified institutional buyers through a private placement, maturing in 2029.

The company also granted the initial purchasers of the notes the option to purchase up to an additional $40 million in principal notes within 13 days from the date of the initial issuance. The sale of the notes is expected to be completed by November 26, 2024, subject to customary closing conditions, with the related funds intended for the expansion of data centers, the development and manufacturing of ASIC-based mining equipment, as well as working capital and other general corporate purposes.