Bitdeer Adds to Bitcoin Reserves Amid Market Downturn
Bitcoin mining firm Bitdeer Technologies (BTDR) has capitalized on the latest market dip, acquiring 50 BTC as the cryptocurrency struggles through its worst month since June 2022.
The company revealed that it purchased Bitcoin at an average price of $81,475 per coin, bringing its total holdings to 855 BTC—now worth approximately $69 million, according to Bitcoin Treasuries.
Despite Bitdeer’s accumulation, its stock opened 0.64% lower, hovering just under $11. Meanwhile, Bitcoin and the broader crypto market faced a sharp 4% decline over the past day. However, a brief rally during U.S. trading hours pushed BTC back above $82,000.
About The Author
More Stories
Bitcoin sees sharp volatility around CME open amid rising Iran-related risks.
MARA likely to post a Q1 loss, with attention turning to its AI expansion plans.
XRP gains 2.5%, outpacing BTC and ETH in a breakout past the $1.45 level.