Crypto miner Bitdeer tanks 17% after $300M debt offering
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.