Bitdeer Raises $375 Million in New Convertible Notes and Equity to Refinance 2029 Debt

Bitdeer Technologies ( (BTDR) ) just unveiled an update.

On February 24, 2026, Bitdeer Technologies Group closed a private placement of US$325 million of 5.00% convertible senior notes due 2032, and on February 26 it issued an additional US$50 million of notes after initial purchasers fully exercised their option, while also entering into related capped call transactions to manage potential equity dilution. On February 26, 2026, the company completed a registered direct equity offering of 5,503,030 Class A ordinary shares at US$7.94 per share and used the proceeds, together with a portion of the convertible notes proceeds, to repurchase US$135 million of its existing 5.25% convertible senior notes due 2029, effectively refinancing and extending its debt profile while adjusting its capital structure.

These financing moves indicate Bitdeer is actively managing near- to medium-term refinancing risk by swapping part of its 2029 notes into longer-dated 2032 convertible debt, at the cost of some shareholder dilution from the equity issuance. The capped call transactions are designed to reduce potential dilution from the new convertible notes within a specified price range, which may help protect existing shareholders while preserving the company’s access to growth capital.

The most recent analyst rating on (BTDR) stock is a Hold with a $8.00 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.

The score is held back primarily by weak financial quality—especially substantial negative operating/free cash flow and higher leverage—despite a 2025 revenue/profitability rebound. Technicals also remain bearish with the stock well below major moving averages. Valuation is moderate (P/E ~18.6), while the earnings call signals operational progress but with significant margin, cash burn, and project-execution risks.

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

More about Bitdeer Technologies

Bitdeer Technologies Group is a Singapore-based company whose Class A ordinary shares trade on the Nasdaq Capital Market under the ticker BTDR. The group operates in the digital asset and technology sector and accesses global capital markets through a mix of equity and convertible debt instruments to fund operations and manage its balance sheet.

Average Trading Volume: 7,101,130

Technical Sentiment Signal: Sell

Current Market Cap: $2.02B

For detailed information about BTDR stock, go to TipRanks’ Stock Analysis page.