Bitdeer Technologies Group Shares Fall on Note Offering

By Natalie WegerBitdeer Technologies Group shares dropped in late trading after the Bitcoin mining technology company said it plans to offer $300 million of convertible senior notes.The stock was down 6.4% to $11.89 in postmarket trading on Tuesday. The stock has been down 41.4% over the past year.The Singapore-based company said it plans to offer $300 million of convertible senior notes due in 2031. It also plans to grant initial purchasers an option to buy up to $45 million in additional notes.Bitdeer said that proceeds from the offering will be used, in part, for datacenter expansion, ASIC based mining rig development and manufacture and other working capital and corporate purchases.Write to Natalie Weger at [email protected]