Bitcoin

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Crypto mining company Bitdeer Technologies is gunning to raise $150 million. The company is rolling out a public offering of convertible senior notes, wanting to lock down the funds to fuel its ambitious data center expansion.&nbsp;
The company is also tossed in an option for underwriters to snag an additional $22.5 million worth of notes if things go well, just in case the initial offering doesn’t cover all the bases.
These convertible notes are pretty straightforward, at least in the world of finance. They’re senior, unsecured obligations, meaning Bitdeer is putting its neck on the line, without backing the notes with any specific assets.&nbsp;
Investors holding these notes have a few options before the notes hit maturity. They can convert them into cash, Bitdeer’s Class A ordinary shares, or even a combination of both.&nbsp;
Bitdeer said it’s a flexible setup that gives investors some wiggle room depending on how things shake out in the market over the next few years.
The interest rate, initial conversion rate, and other fine print details will be hammered out when the notes are priced. That’s when the real numbers come into play, giving investors a clearer picture of what they’re buying into.
Bitdeer has a plan for every dollar they pull in from this offering. The bulk of the funds will be funneled into expanding their data centers. A chunk of the cash will also go towards developing ASIC-based mining rigs.
If you’re in the crypto game, you know how important these rigs are—they’re the backbone of Bitcoin and other proof-of-work cryptocurrencies.
This whole offering is being done under a shelf registration statement on Form F-3, which Bitdeer <a href="https://www.bakersfield.com/ap/news/bitdeer-announces-proposed-offering-of-us-150-million-convertible-notes/article_46d5a400-6bf3-5964-80af-933d6d2ece1f.html" rel="noopener noreferrer nofollow" target="_blank">filed</a> with the U.S. Securities and Exchange Commission (SEC).&nbsp;

Bitdeer to raise $150M via convertible notes for data center expansion

Cryptopolitan_News

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