Evernorth Plans $30 Million Convertible Notes to Buy XRP as Bitdeer Sells All Weekly Bitcoin Output

Evernorth Holdings filed an 8-K with the U.S. Securities and Exchange Commission outlining plans to issue $30 million of convertible senior PIK notes at 4% due in 2031. According to ChainCatcher, the proceeds would be used entirely to buy XRP in the secondary market and support XRP ecosystem-related business, with the notes becoming effective only after Evernorth completes its business combination with Armada Acquisition Corp. II, expected in the fourth quarter of 2026. Bitdeer disclosed weekly mining data showing it produced 287.2 BTC for the week ended September 18 and sold the same amount on the open market. The company reported no net increase in Bitcoin holdings for the week and said it continues to follow a liquidity strategy of selling all newly mined Bitcoin.