Bitdeer tumbles after announcing direct stock, convertible debt deals

Bitdeer Technologies

12/11/2025 21:24

** Shares of bitcoin miner Bitdeer Technologies BTDR.O down 15.4% post-market at $11.79 after planned capital raise news

** Singapore-based BTDR announces direct stock offering to certain holders of its 5.25% convertible bonds (CBs) due 2029, and private offering of $400 mln CBs due 2031

** It plans to use net proceeds from the dual offerings for datacenter expansion, ASIC based mining rig development and manufacture, and for other purposes

** Co also to use portion of proceeds to pay for capped calls, derivative transactions to offset potential dilution

** Barclays is placement agent for the direct stock offering

** BTDR has roughly $3 bln market cap, per LSEG data

** Shares on Weds fell for third straight session, closing down 7.2% at $13.94. Stock has shed ~37% this week

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))