PANews reported on November 13th that, according to GlobeNewswire, Bitdeer (Nasdaq: BTDR) announced a proposed private placement of $400 million in convertible senior notes maturing in 2031, along with options to issue up to $60 million in additional shares to initial purchasers. The company will determine the interest rate and initial conversion rate based on pricing, with conversion consideration in cash, Class A common stock, or a combination thereof. The proceeds are intended to be used for hedging dilution through capped calls with option counterparties, repurchasing its 5.25% convertible bonds maturing in 2029, and for data center expansion, ASIC mining machine R&D and manufacturing, HPC and AI cloud business expansion, and working capital. The company will simultaneously proceed with a registered direct offering to partially repurchase the 2029 convertible bonds; these transactions are conditional upon completion.