{"id":135714,"date":"2024-08-17T10:30:26","date_gmt":"2024-08-17T07:30:26","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=135714"},"modified":"2024-08-17T08:19:34","modified_gmt":"2024-08-17T05:19:34","slug":"bitdeer-announces-150-million-convertible-notes-offering","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/bitdeer-announces-150-million-convertible-notes-offering\/","title":{"rendered":"Bitdeer Announces $150 Million Convertible Notes Offering"},"content":{"rendered":"<p>The company <strong><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\">aims<\/a><\/strong> to use the funds to expand its data centers and develop new ASIC mining rigs.<\/p>\n<p>The notes, which are senior and unsecured, <strong><a href=\"https:\/\/www.globenewswire.com\/news-release\/2024\/08\/16\/2931360\/0\/en\/Bitdeer-Announces-Pricing-of-US-150-Million-Convertible-Notes-Offering.html\">will mature<\/a> <\/strong>on August 15, 2029, unless they are converted, redeemed, or repurchased earlier. These convertible notes can be transformed into equity and will offer holders an 8.5% annual interest rate.<\/p>\n<p>Upon conversion, Bitdeer will provide holders with Class A ordinary shares or a mix of cash and Class A shares. The funds from this offering will be allocated towards expanding data centers, advancing ASIC-based mining technology, and covering other corporate needs.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/imf-proposes-major-electricity-tax-hike-for-crypto-miners\/\" title=\"IMF Proposes Major Electricity Tax Hike for Crypto Miners\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/IMF-1-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">IMF Proposes Major Electricity Tax Hike for Crypto Miners<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Bitdeer, ranked as the 11th largest crypto mining firm globally with a market cap of around $870 million, saw its stock drop by over 18% following the announcement.<\/p>\n<p>The decline was more pronounced over five days, with a 23% drop from $8.26 on August 9 to $6.33. This trend mirrors a similar impact on Core Scientific, which experienced a 10% stock decline after a $400 million convertible notes offering announcement on August 14.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitdeer Technologies Group, a Singapore-based cryptocurrency mining company, has proposed a $150 million public offering of convertible notes set to mature in 2029.<\/p>\n","protected":false},"author":3,"featured_media":135715,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22],"tags":[],"class_list":["post-135714","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitdeer Announces $150 Million Convertible Notes 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