Bitdeer Raises $330M To Expand Bitcoin Mining And AI Operations

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Singapore-based Bitcoin mining agency Bitdeer Technologies Group has launched a $330 million convertible notes providing, aiming to strengthen its mining operations, develop ASIC rigs, and scale its AI infrastructure. 

The notes, due in 2031, carry an annual rate of interest of 4.875% and could also be transformed into Bitdeer Class A shares at a 25% premium to the present inventory worth of $11.84, inserting the conversion worth at roughly $15.88 per share. 

The providing is focused at certified institutional patrons beneath Rule 144A of the Securities Act. If traders train an choice to purchase extra inside 13 days, the providing may attain $375 million.

This is Bitdeer’s third convertible notes increase. Previously, the corporate secured $150 million in August and $360 million in November final yr. According to Bitdeer, the providing is predicted to shut on June 23, 2025.

Net proceeds are anticipated to complete roughly $319.6 million. Around $129.6 million will go towards a zero-strike name choice, with $36.1 million allotted for concurrent word exchanges. The remaining funds will help datacenter enlargement, new ASIC rig improvement, and normal company wants.

Bitdeer can be conducting a word change, providing money and fairness to holders of its 8.50% convertible notes due 2029. That transaction consists of roughly $36.1 million in money and eight.1 million shares, exchanged for $75.7 million in excellent notes. 

This announcement follows Bitdeer’s latest development. As beforehand reported, the corporate mined 196 BTC in May (value over $21 million) and expanded its self mining hashrate to 13.6 EH/s. New SEALMINER rigs had been deployed throughout websites in Texas, Norway, and Bhutan, and its AI cloud platform, powered by massive language fashions, formally launched.

“In May 2025, we continued to deploy our SEALMINER mining rigs to our sites in Texas, U.S., Norway, and Bhutan, bringing Bitdeer’s self-mining hashrate to 13.6 EH/s,” mentioned Matt Kong, Chief Business Officer at Bitdeer.

Bitdeer additionally raised capital from Tether in 2024 and secured $40 million from a debt facility with Matrix Finance in May. Both Bitdeer and Matrix are led by Jihan Wu, co-founder of Bitmain.

With its market cap now exceeding $2.3 billion, Bitdeer continues to spend money on scaling its infrastructure and know-how as competitors in Bitcoin mining and AI computing intensifies.

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