Bitdeer announced a private placement of US$300 million in convertible senior notes due 2032 (option for an extra US$45M). Notes are senior unsecured, pay semiannual interest and can be converted into cash, shares or a mix. Proceeds will fund data-center expansion, AI cloud growth, mining-rig development and general corporate purposes. The deal includes capped-call transactions and a concurrent registered direct share offering to repurchase 2029 notes. This follows a US$150M convertible sale in April 2024; the announcement drove the stock down roughly 17% amid dilution worries.

The company is raising US$300M via convertible senior notes (2032 maturity) that can convert into shares, and this is its second convertible sale after US$150M in April; markets reacted with an ~17% stock decline, indicating investor concern about dilution. Proceeds are earmarked for data-center, AI cloud and mining-rig expansion; deal structure includes capped calls and a concurrent share offering to repurchase 2029 notes.