Bitdeer Doubles Down: Bitcoin Miner Secures Game-Changing Convertible Notes Deal
Bitdeer just loaded its cannons for the next crypto bull run—and Wall Street's traditional mining plays should be nervous.
The Convertible Notes Gambit
The Singapore-based miner quietly inked a deal for convertible notes that'll give it dry powder for expansion. No terms disclosed (classic crypto opacity), but this move screams strategic aggression during a market lull.
Why This Matters Now
With Bitcoin's hash rate hitting record highs, only well-capitalized miners survive the coming efficiency wars. Bitdeer's funding play comes just as smaller operators start coughing blood from last quarter's revenue squeeze.
The Cynical Take
Convertible notes? How delightfully 2021. Nothing says 'we believe in our equity' like structuring debt that converts to stock the moment your share price stops embarrassing you.
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Bitdeer’s MOVE reflects a larger wave of fundraising among mining firms in 2025. Riot Platforms expanded its credit line with Coinbase to $200 million, while Auradine raised $153 million in Series C funding. CleanSpark also secured a $200 million facility through Coinbase Prime.
As the global bitcoin hashrate rises, mining operations are facing growing pressure to upgrade infrastructure, improve efficiency, and remain competitive in an increasingly institutionalized sector.
