04:22 PM EST, 11/21/2024 (MT Newswires) -- Bitdeer Technologies ( BTDR ) said Thursday it plans to offer $360 million of convertible senior notes due 2029 in a private placement.

Initial buyers of the notes will be given an option to buy up to an additional $40 million of notes, the company said.

A part of the net proceeds will be used to pay the cost of a zero-strike call option deal and to pay the cash consideration for simultaneous note exchange deals.

Remaining net proceeds will be used for data center expansion projects, mining rig development and manufacture, and working capital and other general corporate purposes, Bitdeer ( BTDR ) said.

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