Bitdeer signs up to $150 million common stock purchase agreement with B. Riley

Odaily Planet Daily News According to the documents submitted to the US SEC, Bitdeer, a mining company under Jihan Wu, signed a common stock purchase agreement and a registration right agreement with B. Riley Principal Capital II, LLC. Pursuant to the Purchase Agreement, the Company has the right to sell to B. Riley Principal Capital II from time to time during the term of the Purchase Agreement up to $150,000,000 of its Class A common stock, each with a par value of $0.0000001, subject to certain restrictions and condition. The sale of the Company's Class A common stock pursuant to the Purchase Agreement, and the timing of any sale, is entirely at the Company's option, and the Company is under no obligation to sell any securities to B. Riley Principal Capital II pursuant to the Purchase Agreement. According to previous news, Bitdeer is selling the environmentally friendly bitcoin mining private equity fund BGB (Bitdeer Green Bitcoin Fund). The fund's investment goal is to earn returns by owning and operating the bitcoin mining industry in Bhutan, with a construction target of 600 MWs. The estimated total computing power is close to 20 EH/s. BGB Fund operates as a closed-end fund with a duration of 6 years and a minimum investment of US$5 million. The first phase of the project is expected to raise US$80 million.