Bitdeer announced a proposed private sale of $300 million in convertible notes, with part of the proceeds to be used for Mining Rig development and data center expansion.

On June 18, according to reports, Nasdaq-listed Bitcoin mining company Bitdeer announced plans for a private sale of $300 million in convertible preferred notes. The company plans to use part of the net proceeds from this issuance to cover the costs of zero-exercise-price call options trading, as well as the cash consideration for the concurrent note exchange transactions. The company plans to use the remaining net proceeds from this issuance for data center expansion, the development and manufacturing of ASIC Mining Rigs, as well as working capital and other general corporate purposes.