Overview
- Bitdeer reported zero corporate Bitcoin holdings after selling 1,132.9 BTC during the period ended Feb. 20, including 189.8 BTC of new output and 943.1 BTC from reserves.
- The company finalized 5% convertible senior notes due 2032 totaling $325 million, with an additional $45 million greenshoe option available to initial purchasers.
- A $43.5 million direct placement of Class A shares to certain noteholders expanded financing capacity and added to dilution concerns.
- Disclosed uses of proceeds include data‑center expansion, AI cloud infrastructure build‑out, ASIC development (including SEALMINER), and general working capital.
- Shares slipped about 2% to roughly $7.78 after the updates, while Bitdeer cited industry‑leading scale with 55.2 EH/s self‑mining and 71 EH/s managed hashrate, leading in self‑managed capacity.