- Bitdeer generated $100 million in proceeds from the private placement, which could grow to $150 million if fully exercised.
- Tether now has a unit specifically focused on investments in bitcoin mining.
As a researcher, I’ve uncovered that Bitdeer entered into a private placement agreement last week, selling off 18,587,360 Class A ordinary shares for approximately $100 million based on the information disclosed in their recent announcement.
Under the terms of the contract, you’ll have the option to buy an extra 5 million shares for each at $10. If you choose to exercise this privilege in its entirety, it would cost you an additional $50 million.
As a crypto investor, I can tell you that Bitdeer plans to utilize the funds raised to advance its data center growth and create new ASIC mining rigs.
Shares of Bitdeer jumped over 4% to $6.08 in pre-market trading after the announcement.
Tether, the company behind the popular stablecoin USDT, has recently restructured into four distinct business units. One of these new divisions is dedicated to investing in Bitcoin mining.
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2024-05-31 15:47