According to BlockBeats, Bitdeer Technologies Group, a tech company in the blockchain and high-performance computing sector, announced on May 31 that it has signed a subscription agreement with Tether International Limited for a private placement. The deal involves 18,587,360 Class A common shares and the right to purchase up to 5,000,000 additional shares at $10.00 per share. The private placement was completed on May 30, 2024.
The transaction generated a total revenue of $100 million through the issuance of shares. If all the warrants are exercised, an additional $50 million could be provided. Bitdeer plans to use the net proceeds from this private placement to fund the expansion of its data centers, the development of ASIC-based mining machines, and for working capital and other general corporate purposes.