Bitcoin cloud mining company Bitdeer plans to issue $300 million in convertible notes and sell Class A shares to fund growth initiatives. The capital raised will support capped call transactions to limit dilution, repurchase part of the 2029 convertible notes, and invest in expanding data centers, AI cloud computing, and ASIC mining equipment. Following the announcement, Bitdeer's stock fell sharply by 17% to a 10-month low, currently trading at $8.29.
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Bitdeer Shares Plunge to 10-Month Low After $300M Convertible Note Plan
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