Bitdeer (Nasdaq: BTDR) has announced plans to privately issue $400 million in convertible senior notes due in 2031. The company also has options to issue up to $60 million in additional shares to initial purchasers. The interest and conversion rates will be determined at pricing, with conversion options in cash, Class A common stock, or a combination. Proceeds from the issuance will be used for hedging dilution through capped calls, repurchasing existing 5.25% convertible bonds due in 2029, and funding data center expansion, ASIC mining machine R&D, HPC and AI cloud business growth, and working capital. Bitdeer will also conduct a registered direct offering to partially repurchase the 2029 bonds, contingent on the completion of these transactions.