Timothy Morano
Sep 09, 2025 04:34
Bitdeer Technologies Group announces a cleanup redemption of its outstanding convertible senior notes due 2029, impacting $7.7 million in principal amount.
Bitdeer Technologies Group, a prominent Bitcoin mining technology company, has revealed plans for a cleanup redemption of its outstanding convertible senior notes due in 2029. This announcement, made on September 8, 2025, pertains to $7.7 million in aggregate principal amount of these notes, as disclosed by the company headquartered in Singapore.
Redemption Details
The cleanup redemption is set for September 23, 2025. Bitdeer has confirmed that the redemption price will equate to 100% of the principal amount, alongside accrued and unpaid interest from August 15, 2025, up until, but not including, the redemption date. Consequently, interest on these notes will cease to accrue from the redemption date onward.
Conversion Opportunities
Holders of the notes have the option to convert their holdings into Bitdeer’s Class A ordinary shares until 5:00 p.m. (New York City time) on September 19, 2025. The conversion rate has been set at 127.9743 Class A shares per $1,000 of principal, which includes a conversion rate increase due to the redemption notice. Bitdeer plans to settle these conversions by delivering Class A shares and cash for any fractional shares, if necessary.
About Bitdeer Technologies Group
Bitdeer, listed on Nasdaq under the ticker BTDR, is renowned for its comprehensive Bitcoin mining solutions. The company manages intricate processes like equipment procurement and datacenter management. Bitdeer also extends advanced cloud solutions to meet high demands for artificial intelligence. With its headquarters in Singapore, Bitdeer operates datacenters across the United States, Norway, and Bhutan.
Forward-Looking Statements
The announcement includes forward-looking statements that reflect Bitdeer’s expectations regarding the completion of the cleanup redemption. These statements are subject to risks and uncertainties that could cause actual results to differ. Interested parties are advised to consult the risk factors detailed in Bitdeer’s annual report and subsequent filings with the U.S. Securities and Exchange Commission.
For more details, visit the official announcement on Bitdeer.
Image source: Shutterstock
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