09:56 AM EST, 11/13/2025 (MT Newswires) -- Bitdeer Technologies Group ( BTDR ) said Thursday it priced a $400 million private placement of 4.00% convertible senior notes due 2031.

The company said it granted the initial purchasers an option to buy up to an additional $60 million of notes, for settlement within a 13-day period. The sale of the notes is expected to close on Nov. 17.

Bitdeer ( BTDR ) said it also priced a registered direct offering of about 10.7 million of its class A ordinary shares to certain holders of its 5.25% convertible senior notes due 2029 at $13.94 per share. The registered direct offering is expected to close on Nov. 19.

Bitdeer ( BTDR ) said it expects net proceeds of about $148.4 million from the registered direct offering and roughly $388 million from the notes offering, which could go up to $446.4 million if initial purchasers fully exercise their option to buy additional notes.

The company said it intends to use the net proceeds from both offerings to pay for the repurchase of the 2029 notes and the cost of the capped call transactions, as well as for data center expansion, ASIC-based mining rig development and manufacture, expansion of its HPC and AI cloud business, and for general corporate purposes, including working capital.

Shares of Bitdeer ( BTDR ) were down more than 21% in recent trading Thursday.

Price: 10.94, Change: -3.00, Percent Change: -21.52