Bitcoin mining and AI empire, Bitdeer, collects an impressive $330 million to broaden their operations.
Bitdeer Technologies Group, a leading digital asset mining service provider, has launched a $330 million convertible notes offering. This is the company's third capital one login, following previous fundings of $150 million in August 2021 and $360 million in November 2021.
The offering is targeted at qualified institutional buyers under Rule 144A of the Securities Act. The notes may be converted into Bitdeer Class A shares at a 25% premium to the current stock price of $11.84, placing the conversion price at approximately $15.88 per share.
If investors exercise an option to buy more within 13 days, the offering could reach $375 million. The notes are due in 2031 and carry an annual interest rate of 4.875%.
Approximately $129.6 million will go toward a zero-strike call option. The remaining funds will support datacenter expansion, new ASIC rig development, and general corporate needs.
Notably, the notes exchange is also being offered, offering cash and equity to holders of Bitdeer's 8.50% convertible notes due 2029. Bitdeer's market cap now exceeds $2.3 billion.
In May, Bitdeer secured a $40 million debt facility with Matrix Finance. The company also raised capital from Tether in 2024. In terms of operational growth, Bitdeer mined 196 BTC in May, worth over $21 million.
Moreover, Bitdeer has expanded its self-mining hashrate to 13.6 EH/s. The company has also deployed new SEALMINER rigs across sites in Texas, Norway, and Bhutan.
In addition, Bitdeer Technologies Group was supported by Hillhouse Capital with a capital increase of approximately $319.6 million in 2025. The company's AI cloud platform, powered by large language models, officially launched.
Bitdeer is led by Jihan Wu, co-founder of Bitmain, who also leads Matrix. This latest funding round is a testament to the faith investors have in Bitdeer's future and its potential to continue leading in the digital asset mining industry. The offering is expected to close on June 23, 2025.
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