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Bitdeer files for up to $1B in ATM share sales for AI buildout

The Aug. 10 filing authorizes Class A sales without a minimum amount, and a full draw at an illustrative $10.88 price would imply dilution of up to about 40.4% of current shares outstanding.

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Bitdeer, a Bitcoin miner, filed an Aug. 10 prospectus supplement to register up to $1 billion of potential Class A share sales through its at-the-money program, creating additional equity financing capacity tied to its data-center and AI plans. The filing describes the existing ATM setup as capable of raising up to $1 billion, about twice the roughly $500 million the company says it still needs to build its Tydal AI data center. The supplement sets no minimum sale amount and does not commit Bitdeer to sell the full authorization or spend all proceeds on the Tydal project. At an illustrative share price of $10.88, a full draw on the $1 billion ATM capacity would require about 91.9 million new shares. CryptoSlate notes that this issuance would be about 40.4% of the 227.4 million Class A shares outstanding as of June 30, and would represent about 28.8% dilution using the enlarged share pool measure. Bitdeer says the ATM can support multiple business lines, including data-center expansion, high-performance computing and AI cloud growth, ASIC mining-rig development and manufacturing, working capital, and general corporate purposes. The company’s lease disclosure targets Dec. 31, 2026 for Phase 1 commencement and March 31, 2027 for Phase 2, with the tenant Volta Tydal AS expected to have obligations backed by about $1.3 billion of letters of credit arranged by affiliates of JPMorgan and another global financial institution, subject to conditions, and Bitdeer retaining rights tied to credit-backstop milestones.

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