Bitdeer announced that it will issue $360 million in 5.25% convertible senior notes to qualified institutional investors, maturing in 2029. Initial purchasers may purchase an additional $40 million principal notes within 13 days after the issuance, and the transaction is expected to be completed on November 26. The initial conversion price of the notes is $15.95 per share, representing a premium of 42.5% over the closing price on November 21. After deducting related expenses, the expected net fundraising is approximately $348.2 million, and if the additional subscription is fully exercised, the net fundraising will reach $387 million. The funds will be used for data center expansion, ASIC miner research and development manufacturing, and daily operations. The company also announced that it has reached an exchange agreement with some holders of 8.50% convertible bonds maturing in 2029.