Bitcoin Mine and the Asic Bitdeer Technologies manufacturer (BTDR) It has completed a private placement of $ 330 million of major convertible notes that mature on July 1, 2031. The notes have an interest in 4,875% and have a conversion price of $ 15.87 per share, approximately 44% above the current commercial price of BTDR of $ 11.
The conversion rate of the 62,9921 class A bond for every $ 1,000 means that the complete conversion could produce approximately 20.8 million new shares. To cover this, Bitdeer Prepaid Barclays $ 129.6 million for a purchase option with a zero exercise price in more than 10.2 million shares, or 49% of the total conversion. The option allows Bitdeer to resolve conversions using Barclays inventory actions instead of tie their own actions.
Bitdeer, is using approximately $ 129.6 million of the income to finance the option to purchase zero strike, $ 36.1 million to pay the cash consideration for their transactions to change concurrent notes and the remaining funds for the expansion of the data center, the development of its manufacturing capital and work work ASIC.
Currently, the company is working on new ASIC chips designs that could potentially make its mining platforms substantially more efficient than current models.
The actions are marginally lower in the trade on Wednesday.
