Bitdeer Launches US$300 Million Convertible Notes Plan Tied to Debt Repurchase and AI, Mining Expansion

Bitdeer Technologies ( (BTDR) ) has shared an announcement.

On February 19, 2026, Bitdeer Technologies Group announced a proposed private placement of US$300 million in convertible senior notes due 2032 to qualified institutional buyers under Rule 144A, with an option for initial purchasers to buy an additional US$45 million of notes. The notes, which will be senior unsecured obligations convertible into cash, Class A ordinary shares or a mix of both, are part of a broader financing plan that also includes a registered direct equity offering and related balance sheet transactions.

Bitdeer plans to use part of the proceeds from the notes and the registered direct share sale to fund capped call transactions aimed at limiting dilution from potential note conversions and to repurchase a portion of its 5.25% convertible senior notes due 2029 in privately negotiated deals. Remaining proceeds are earmarked for datacenter expansion, high-performance computing and AI cloud growth, ASIC mining rig development and general corporate purposes, with the linked offerings and note repurchases expected to influence trading dynamics in Bitdeer’s Class A shares and outstanding notes as hedge positions are established and unwound.

The most recent analyst rating on (BTDR) stock is a Buy with a $20.00 price target. To see the full list of analyst forecasts on Bitdeer Technologies stock, see the BTDR Stock Forecast page.

Spark’s Take on BTDR Stock

According to Spark, TipRanks’ AI Analyst, BTDR is a Neutral.

BTDR’s score is held down primarily by very large negative operating/free cash flow, rising leverage, and sharp margin compression despite a rebound in reported profitability. Technicals also remain bearish with the stock trading below key moving averages and negative MACD. Earnings-call updates show meaningful growth initiatives and guidance, but near-term execution and cash burn risks remain significant.

To see Spark’s full report on BTDR stock, click here.

More about Bitdeer Technologies

Bitdeer Technologies Group is a Singapore-headquartered technology company focused on Bitcoin mining and AI infrastructure. It provides end-to-end Bitcoin mining solutions including equipment procurement, logistics, datacenter design and operations, and also offers advanced cloud capabilities for customers with high artificial intelligence computing demands, operating datacenters in the U.S., Norway and Bhutan.

Average Trading Volume: 6,596,369

Technical Sentiment Signal: Sell

Current Market Cap: $2.23B

Find detailed analytics on BTDR stock on TipRanks’ Stock Analysis page.