Overview
- Bitdeer reported selling 1,132.9 BTC — 189.8 BTC of weekly output plus 943.1 BTC of reserves — leaving corporate holdings at zero as of Feb. 20.
- The company priced $325 million of 5% convertible senior notes due 2032 alongside roughly $43–$44 million of equity, with upsizing options disclosed in filings.
- Management says proceeds will support powered land purchases, data‑center buildouts, AI and high‑performance computing cloud services, and proprietary ASIC development.
- Self‑managed hashrate reached about 63.2 EH/s, surpassing Marathon Digital and making Bitdeer the largest publicly traded miner by internally operated capacity.
- Shares fell following the disclosures as miners face tighter economics, including a recent 14.7% difficulty jump and hashprice near cycle lows, driving a sector shift toward AI/HPC hosting.