According to ChainCatcher, Bitcoin mining company Bitdeer announced that it will issue $300 million in principal convertible senior notes due in 2031 to qualified institutional buyers through a private placement. The company plans to grant the initial purchasers of the notes an option to purchase up to an additional $45 million in principal within 13 days of the first issuance of the notes. Part of the net proceeds from the offering will be used to pay the cost of zero-strike call option transactions and cash consideration for note exchange transactions. The remaining net proceeds will be used for data center expansion, ASIC mining machine development and manufacturing, as well as working capital and other general corporate purposes.