Bitdeer Technologies announced plans to raise $300 million through a private placement of convertible senior notes due 2032 to fund its expansion into high-performance computing and AI infrastructure, which marks a significant pivot from its core Bitcoin mining operations. The company is also granting initial purchasers an option for an additional $45 million in notes and plans to manage potential equity dilution through capped call transactions. This initiative follows a strong fourth quarter in which Bitdeer reported a revenue increase of 226% and a net profit of $70.5 million, while its total managed hashrate grew to 71 EH/s, surpassing competitor MARA Holdings. Following the announcement, Bitdeer’s shares fell by as much as 18% in pre-market trading.
Bitdeer Technologies plans $300M note offering to scale high-performance computing
