Bitcoin miner Bitdeer tumbles 17% as $300 million convertible note offering spurs dilution fears

Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Bitcoin miner Bitdeer tumbles 17% as $300 million convertible note offering spurs dilution fears The Singapore-based bitcoin miner and AI data center firm is raising capital to repurchase notes and fund expansion. By Krisztian Sandor , AI Boost | Edited by Stephen Alpher Feb 19, 2026, 2:40 p.m. Make us preferred on Google Bitdeer (Bitdeer, modified by CoinDesk) What to know : Bitdeer unveiled plans to raise $300 million via convertible notes. The company also plans a registered direct share sale tied to a note repurchase. Shares fell 17% to a 10-month low. Bitdeer Technologies (BTDR) shares plunged on Thursday on plans to raise $300 million through a private sale of convertible senior notes , alongside a separate registered direct offering of Class A shares. The notes, due in 2032, can convert into cash, shares or a mix of both at Bitdeer’s election. The underwriter greenshoe option is for another $45 million in notes. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy . The Singapore-based company also intends to sell an unspecified number of Class A shares directly to certain holders of its 5.25% convertible notes due 2029. It plans to use proceeds from both offerings to fund capped call transactions designed to limit share dilution if the new notes convert, and to repurchase a portion of the 2029 notes in private deals. Any remaining funds will go toward expanding data centers, growing its high-performance computing and AI cloud businesses and developing ASIC-based mining rigs. Convertible debt often puts pressure on shares because investors factor in the risk of future dilution. In simple terms, if the company’s stock rises, noteholders may convert their debt into equity, increasing the share count. Bitdeer’s use of capped calls aims to offset some of that effect, though such hedging can add volatility around pricing. The registered direct offering depends on completion of the notes sale and related repurchases, while the notes offering can proceed on its own. Bitdeer's shares fell 17% in the early morning trading below $8 for the first time since April. Bitcoin Miners Bitdeer Data Centers AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk's full AI Policy . More For You Zoomex: Precise Systems of Fairness and Transparency by Design By CoinDesk Jan 31, 2026 Commissioned by Zoomex Read full story More For You Figure is debuting its tokenized stock along with upsized $150 million offering By Krisztian Sandor | Edited by Oliver Knight 1 hour ago The FGRD token represents common shares of the company issued natively onchain with instant settlement and built-in lending tools. What to know : Figure will issue Thursday a tokenized version of its stock directly on blockchain rails, bypassing legacy clearing systems. Stock token holders will be able to lend or borrow through Figure's DeFi market. The listing comes amid Figure's $150 million secondary share offering, with Pantera Capital among participants. Read full story Latest Crypto News Finish the job on digital asset market structure 24 minutes ago CoinDesk 20 Performance Update: Bitcoin (BTC) Drops 0.3% as All Assets Decline 31 minutes ago Why bitcoin’s rare oversold RSI crash signals a long, slow grind ahead 1 hour ago Figure is debuting its tokenized stock along with upsized $150 million offering 1 hour ago SocGen taps XRP Ledger for euro stablecoin distribution 1 hour ago Illicit networks accounted for $141 billion of the trillions of stablecoin volume in 2025 2 hours ago Top Stories Bitcoin is about to log its longest losing streak since 2022 as geopolitical nerves hit risk trades 8 hours ago Ledn raises $188 million with first bitcoin backed bond sale in asset backed market 7 hours ago Bitcoin, ether, xrp ETFs bleed while Solana bucks outflow trend 7 hours ago WLFI surges 10% after Apex stablecoin deal, outperforming BTC and ETH 11 hours ago Crypto markets feel the chill, Base, ether.fi reorganize layer-2 landscape 2 hours ago The bank of the future: 77% of stablecoin users say they’d open a wallet with their bank today 3 hours ago