Bitdeer Technologies Group (BTDR) Registration Filing summary

Company overview and business model

• Operates as a global technology provider for blockchain and high-performance computing, offering solutions in equipment procurement, datacenter management, and cloud services for AI and cryptocurrency mining.

• Maintains six mining datacenters across the US, Norway, and Bhutan with a total electrical capacity of 895MW as of May 31, 2024.

• Business lines include self-mining, hash rate sharing (Cloud Hash Rate and Hash Rate Marketplace), and hosting services, all supported by proprietary software Minerplus.

• Sources mining machines from a broad network, focusing on recent, energy-efficient models to ensure stable hash rate supply.

• Headquartered in Singapore, with a corporate structure as a Cayman Islands exempted company.

Financial performance and metrics

• As of March 31, 2024, had $118.5 million in cash and cash equivalents and $266.9 million in borrowings.

• Shareholders’ equity was $440.6 million actual and $589.1 million as adjusted for the offering.

• Outstanding shares as of March 31, 2024: 70,315,404 Class A and 48,399,922 Class V Ordinary Shares.

Use of proceeds and capital allocation

• Will use net proceeds from the sale of securities for working capital, datacenter expansion, and ASIC-based mining rig development.

• Proceeds from the resale of shares by the selling securityholder will not go to the company; only warrant exercise proceeds will be received.

• Proceeds will not be used for debt repayment (except trade payables), share redemptions, or litigation settlements.