ChainCatcher news, reported by GlobeNewswire, Bitcoin mining company Bitdeer announced the issuance of $360 million of convertible preferred notes to qualified institutional buyers through a private placement, maturing in 2029.

The company also granted the initial purchasers of the notes the option to purchase up to an additional $40 million principal amount of the notes within 13 days from the initial issuance date. The sale of the notes is expected to be completed on November 26, 2024, subject to customary closing conditions, with the related funds intended for data center expansion, development and manufacturing of ASIC-based mining equipment, as well as working capital and other general corporate purposes.