Bitcoin Miner Bitdeer Boosts War Chest With New Convertible Notes Deal

Bitdeer Technologies, a Bitcoin mining firm based in Singapore, is gearing up to raise $330 million through a fresh offering of senior convertible notes maturing in 2031.

The funding will support expansion of its data centers and the advancement of its mining hardware, particularly ASIC technology.

A portion of the proceeds—$130 million—will go toward a zero-strike call option, while $36 million is set aside for settling previous debt agreements. The remainder will be invested directly into scaling the company’s operations. This follows a similar $150 million financing round completed in August 2024.

Despite the announcement, Bitdeer’s stock dropped by over 7%, continuing its downward trend—down nearly 46% for the year. The company’s Q1 2025 earnings showed a 41% revenue decline and an operating loss of $3.2 million, though net income exceeded $400 million due to gains linked to convertible securities and warrants issued to Tether.

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Bitdeer’s move reflects a larger wave of fundraising among mining firms in 2025. Riot Platforms expanded its credit line with Coinbase to $200 million, while Auradine raised $153 million in Series C funding. CleanSpark also secured a $200 million facility through Coinbase Prime.

As the global Bitcoin hashrate rises, mining operations are facing growing pressure to upgrade infrastructure, improve efficiency, and remain competitive in an increasingly institutionalized sector.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.