Bitdeer’s Bitcoin Bonanza: How They Struck Gold in a Digital Minefield! 💰

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What to know:

  • In a dazzling display of financial acrobatics, Bitdeer Technologies has managed to increase its bitcoin holdings by a staggering 75% over the course of two months, reaching a grand total of 1,039 BTC as of February. 🎉
  • In a plot twist worthy of a farcical novel, the company redirected some of its mining equipment towards self-mining, all thanks to customers who decided that payment delays were the new black. Fashionable, indeed! 🕶️
  • In February, BTDR produced a modest 110 BTC, a slight dip from the 126 BTC it managed in January. Perhaps the mining rigs were on a short holiday? 🏖️

Bitdeer Technologies (BTDR), in a move that would make even the most seasoned financial wizard raise an eyebrow, has boosted its bitcoin (BTC) holdings by nearly 75% in just two months. This miraculous feat was achieved by redirecting some of its mining rigs to self-production after customers, in a fit of generosity, requested to delay payments for the SEALMINER A2 units during the cryptocurrency’s latest price plunge. Talk about a twist of fate! 😅

As of February 2025, the Singapore-based company has seen its holdings rise to 1,039 BTC, up from a rather paltry 594 BTC in December. This impressive increase positions it among the top bitcoin miners in terms of BTC treasuries. However, it still finds itself trailing behind the big fish: MARA Holdings with a whopping 46,374 BTC and Riot Platforms with 18,692 BTC. It seems the race is still on! 🏁

Bitdeer’s main focus, it seems, is the development of its bitcoin mining chips. The company proudly claims that its new A3 miner has achieved significant energy efficiency in recent tests. However, it also reported a net loss of $531.9 million for the fourth quarter, attributed to its rather ambitious investments in the development of its mining rigs. A classic case of “spend now, worry later!” 💸

In February, the mining firm produced 110 BTC, a slight decline from January’s 126 BTC, which one might attribute to the month being a tad shorter. After all, who can mine effectively in just 28 days? Its total proprietary hash rate, however, increased to 9.4 exahashes per second (EH/s), up from 8.9 EH/s in December. Progress, albeit at a snail’s pace! 🐌

In the world of stocks, the company’s shares rose a modest 0.85% to $10.66 in Nasdaq trading. A round of applause for the stock market, please! 👏

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2025-03-12 19:40