Bitdeer announced that it will issue a $360 million 5.25% convertible senior note to qualified institutional investors with a maturity date of 2029. Initial purchasers can purchase an additional $40 million principal note within 13 days of issuance, with the transaction expected to close on November 26. The initial conversion price of the notes is $15.95 per share, which is a 42.5% premium to the closing price on November 21. After deducting related expenses, it is expected to raise a net capital of approximately $348.20 million. If the additional subscription shares are fully exercised, the net capital raising will reach $387 million. Funds will be used for data center expansion, ASIC mining machine R & D and manufacturing, and daily operations. The company also announced an exchange agreement with some 8.50% convertible bond holders due in 2029.