Bitcoin mining company Bitdeer, listed on Nasdaq, has announced plans to raise $400 million through the issuance of convertible senior notes. The company intends to use part of the proceeds, along with funds from a concurrent registered direct offering, to complete capped call transactions and repurchase a portion of its 5.25% convertible bonds due in 2029. The remaining funds will be allocated to data center expansion, ASIC miner development and manufacturing, HPC and AI cloud business expansion, and general corporate purposes. Bitdeer noted that the hedging transactions related to the capped call and repurchase operations could impact the company's common stock price. The specific interest rate, conversion price, and redemption terms will be determined at the time of pricing.