Crypto: Crypto Miner Bitdeer Tanks 17% After $300m Debt Offering 2026

Bitdeer has launched its second-ever convertible senior note offering, which has seen its shares tumble 29% so far this year.

Shares in Bitdeer Technologies Group took a hit on Thursday after the Bitcoin mining and artificial intelligence infrastructure firm announced a $300 million convertible senior note offering.

Bitdeer said that it intends to offer a “principal amount” of $300 million in convertible senior notes with an option for purchasers to buy an additional $45 million in a private placement.

It is the second convertible note offering from the firm, following a $150 million offering in April 2024 that also triggered an 18% stock slump.

Convertible senior notes are a loan that investors can convert into shares of the issuing company’s common stock, and holders of these notes have priority over other debt holders in the event of the company’s bankruptcy.

The new notes, due to settle in 2032, are senior unsecured obligations with semiannual interest payments and can be converted into cash, shares, or a combination of both.

Bitdeer intends to use the proceeds for data center expansion, AI cloud growth, development of crypto mining rigs, and general corporate purposes.

The company is headquartered in Singapore, with data centers in the US, Norway and Bhutan.

Shares in Bitdeer (BTDR) ended trading on Thursday down 17.38% to $7.94 and fell slightly in after-hours trading to $7.89.

Company stock is currently down 29% since the beginning of the year and almost 70% since its January 2025 all-time high of around $26.

Source: CoinTelegraph