on June 18th, according to the official announcement, Bitdeer announced its intention to privately issue $300 million in 2031 convertible preferred notes to qualified institutional investors, with a possible additional issuance of $45 million. The notes will be issued as general unsecured debt of the company, with interest paid semi-annually.At conversion, the company may choose to pay in cash, Class A common stock, or a combination of both. Some of the proceeds will be used to pay the cash consideration for zero-cost call options trading and simultaneous notes exchange transactions, with the remaining funds allocated to data center expansion, ASIC-based mining machine development and manufacturing, and working capital.
