Singapore-based Bitcoin mining firm Bitdeer Technologies Group has launched a $330 million convertible notes offering (expandable to $375 million) with a 4.875% coupon and a 25% conversion premium. This marks its third such raise, following $150 million in August 2024 and $360 million in November 2024. Net proceeds of approximately $319.6 million will fund datacenter expansion, new ASIC miner development, and AI infrastructure. In May 2025, Bitdeer mined 196 BTC (worth over $21 million), grew its self-mining hashrate to 13.6 EH/s, and deployed SEALMINER rigs in Texas, Norway, and Bhutan. The company also secured funding from Tether in 2024 and a $40 million debt facility from Matrix Finance in May 2025. Both Bitdeer and Matrix Finance are led by Bitmain co-founder Jihan Wu. Market cap now exceeds $2.3 billion.

Singapore-based Bitcoin mining firm Bitdeer Technologies Group has issued a $330 million convertible notes offering with a 4.875% interest rate due 2031 to strengthen mining operations, develop ASIC rigs, and scale AI infrastructure. This is the company's third such raise, following $150M in August and $360M in November last year. Net proceeds of approximately $319.6 million will fund datacenter expansion, new ASIC development, a zero-strike call option, and a concurrent note exchange. Bitdeer mined 196 BTC in May, bringing self-mining hashrate to 13.6 EH/s. SEALMINER rigs deployed across Texas, Norway, and Bhutan; its AI cloud platform launched. Led by Bitmain co-founder Jihan Wu, Bitdeer has a market cap exceeding $2.3 billion and has secured additional funding from Tether and Matrix Finance.

KindlyMD, a Nasdaq-listed healthcare provider, has agreed to merge with Nakamoto Holdings, a Bitcoin-native holding company, in a deal valued at $710 million. The transaction includes a $510 million PIPE at $1.12 per share and $200 million in senior secured convertible notes due 2028. Bitcoin Magazine founder David Bailey will become CEO of the combined entity, which will pursue a Bitcoin treasury strategy. Over 200 global investors participated, including institutions like VanEck, ParaFi, and Yorkville Advisors, and individuals such as Adam Back, Jihan Wu, and Balaji Srinivasan. The merger requires shareholder approval and is expected to close under customary conditions, with KindlyMD shares continuing to trade under KDLY on Nasdaq until a new ticker is announced.

KindlyMD (NASDAQ: KDLY), a Utah-based healthcare provider, has entered into a merger agreement with Nakamoto Holdings Inc., a Bitcoin-native holding company, in a deal totaling $710 million. The transaction includes $510 million in PIPE financing at $1.12 per share and $200 million in senior secured convertible notes maturing in 2028. The combined entity will be a publicly traded company focused on a Bitcoin treasury strategy, led by David Bailey, founder of BTC Inc. and Nakamoto Holdings. Over 200 global investors participated, including institutional investors like Actai Ventures, Arrington Capital, Van Eck, and individuals such as Adam Back, Jihan Wu, and Balaji Srinivasan. KindlyMD's healthcare operations will continue under Tim Pickett. The stock will trade under KDLY until a new ticker is announced.

A whale associated with Matrixport holds a 120,000 ETH long position with an unrealized loss of approximately $78 million, and has added 5.84 million USDC in margin to avoid liquidation.