On June 18, CoinWorld reported that Bitcoin mining company Bitdeer announced the issuance of $300 million principal convertible senior notes due in 2031 through a private placement to qualified institutional buyers. The company also plans to grant the initial purchasers of the notes an option to purchase additional notes in an amount of up to $45 million principal within 13 days of the initial issuance. The company plans to use a portion of the net proceeds from this offering to pay for the costs of zero-execution-price call option trades, as well as the cash consideration for the concurrent note exchange transaction, and will use the remaining net proceeds from this offering for data center expansion, development and manufacturing of ASIC mining machines, as well as working capital and other general corporate purposes.