Bitdeer Unleashes $1B ATM Financing Option Amid Tydal Project Ambitions
Bitdeer, a Bitcoin miner, has filed an updated prospectus supplement that unlocks up to $1 billion in ATM sales. This financing option is available through the company's existing at-the-money program, which was established in January 2025.
The prospectus sets no minimum sale amount and does not require Bitdeer to sell the full authorization or spend all of it on its Tydal AI data center project. The filing also notes that the $1 billion ATM capacity can support more than one business line, including data-center expansion, high-performance computing, and other general corporate purposes.
If Bitdeer were to draw on its entire ATM capacity, it would require about 91.9 million new shares at an illustrative price of $10.88. This issuance would equal approximately 40.4% of the company's current Class A shares outstanding and dilute existing shareholders by up to 28.8%.