Wu said that Bitdeer announced the issuance of $360 million convertible senior notes to qualified institutional buyers. The notes will be the company's general, senior unsecured debt with an interest rate of 5.25% per year and a maturity date of 2029. The sale of the notes is expected to be completed on November 26, 2024. Part of the net proceeds will be used for data center expansion, the development and manufacturing of ASIC-based mining equipment, as well as working capital and other general corporate purposes.