BitDeer announced that it has received $150 million in private equity financing

Bitdeer Technology Group (NASDAQ stock code: BTDR) announced a private placement of 18,587,360 Class A common shares with warrants attached, which can purchase up to an additional 5,000,000 shares at $10.00 per share with an end date of May 30, 2024. The transaction generated a total revenue of $100 million in stock issuance and can provide an additional $50 million if the warrants are fully exercised. The warrants are subject to customary anti-dilution provisions reflecting stock dividends and splits or other similar transactions, as well as weighted average anti-dilution protection against the issuance of common stock or common stock equivalents at a per share price lower than the initial exercise price of the warrants. The warrants can be exercised by Tether at its own discretion within 12 months after delivery. Bitdeer plans to use the net proceeds from this private placement to fund its data center expansion, ASIC-based mining equipment development, and working capital and other general corporate purposes.