Mining News in November：Deutsche Telekom Enters Mining, Bhutan Mining Holds Large Amounts of Bitcoin, Russia Improves Mining Tax Framework, sponsored by Bitdeer
Title sponsored by Bitdeer, a NASDAQ-listed mining company. 1. Bitdeer announced the issuance of $360 million of convertible senior notes to qualified institutional buyers, which will be the company’s general, senior unsecured debt, with an interest rate of 5.25% per annum and a maturity date of 2029. The initial conversion rate of the notes will be 62.7126 Class A ordinary shares per US$1,000 principal amount of such notes (equivalent to an initial conversion price of approximately US$15.95 per Class A ordinary share). The sale of the notes is expected to close on November 26, 2024. A portion of the net proceeds will be allocated to data center expansion, the development and manufacturing of ASIC-based mining equipment, working capital, and other general corporate purposes. Read more 2. Bitcoin mining colocation and cloud servicing firm Applied Digital is poised to raise $375 million through a private offering of convertible notes. The convertible notes feature an interest rate of 2.7...