Latest news with #Bitdeer
Yahoo
4 days ago
- Business
- Yahoo
Bitdeer Technologies (BTDR) Falls 7% After $330-Million Debt Offer
We recently published a list of 10 Stocks Take A Shocking Nosedive. Bitdeer Technologies Group (NASDAQ:BTDR) is one of the worst-performing stocks on Thursday. Bitdeer Technologies fell by 7.13 percent on Wednesday to end at $11.8 apiece as investors unloaded portfolios following plans to raise $330 million in fresh funds through a debt offering. In a statement, Bitdeer Technologies Group (NASDAQ:BTDR) said that it plans to issue convertible senior notes to qualified institutional investors until June 23, 2025. The notes carry a yield rate of 4.875 percent to be paid semiannually on every January 1 and July 1 until 2031, unless earlier converted, redeemed or repurchased. According to Bitdeer Technologies Group (NASDAQ:BTDR), it would allocate $129.6 million of the proceeds to pay the cost of the zero-strike call option transaction which it entered into with an affiliate of one of the institutional investors. A construction team in a mining datacenter building work site with plans and equipment in hand. Meanwhile, some $36.1 million will be spent to pay the cash consideration for the concurrent note exchange transactions that it has entered into, while the remaining balance will be used for its data center expansion, ASIC based mining rig development, as well as working capital and other general corporate purposes. While we acknowledge the potential of BTDR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
11-06-2025
- Business
- Yahoo
Bitdeer Ramps Up Self-Mining Capacity, Ships 1.6 EH/s of SEALMINER A2s in May
Bitcoin BTC mining firm Bitdeer (BTDR) increased its self-mining capacity and expanded its international operations in May, according to the company's monthly update. The Singapore-based firm mined 196 BTC last month — up 18% from April — as it pushed forward the deployment of its SEALMINER A2 rigs across data centers in the U.S., Norway, and Bhutan. The company's proprietary hashrate now sits at 13.6 exahashes per second (EH/s), thanks to the energization of 3.9 EH/s worth of SEALMINER A1 machines and the ongoing rollout of the A2 line. Bitdeer also shipped 1.6 EH/s of SEALMINER A2 units to external customers during the month, signaling growing adoption of its mining hardware. The firm's infrastructure buildouts are also gaining pace. In Norway, 70 megawatts (MW) of a planned 175 MW expansion at Tydal are already online, with the remaining 105 MW expected to be energized by the end of June. In Bhutan, the Jigmeling site has begun energization, with plans to bring an additional 368 MW online for a total of 500 MW. A 221 MW facility in Massillon, Ohio, remains on track for phased completion through the second half of the year. The company's reach is extending into new markets. Bitdeer is preparing a 50 MW site in Ethiopia with support from a local partner and has secured a fully licensed property in Alberta, Canada, where it will build a natural gas power plant to support mining operations. In May, Tether exercised warrants from a previous financing round, providing Bitdeer with $50 million in cash in exchange for over 5 million shares. Looking ahead, Bitdeer says it remains on track to reach 40 EH/s in self-mining capacity by October. Sign in to access your portfolio
Yahoo
07-06-2025
- Business
- Yahoo
Stocks rally as Trump-Musk feud cools down
Stocks rally as Trump-Musk feud cools down originally appeared on TheStreet. Crypto stocks bounced back on June 7 as both President Donald Trump and Tesla (Nasdaq: TSLA) boss Elon Musk retreated from their big, ugly feud from the previous day. Strategy (Nasdaq: MSTR), which had dipped around 6% yesterday, was trading at $375.01 at press time, up 1.69% a day. Helmed by Michael Saylor, the company is the largest public Bitcoin treasury company. The largest U.S. crypto exchange Coinbase (Nasdaq: COIN) had slipped as much as 10% the day before. The stock, which made it to the much-coveted spot on the S&P 500 in May, was trading at $254.31, up 4% a day. The crypto and stock trading exchange Robinhood (Nasdaq: HOOD) dipped around 8% on the day of the feud. It was trading at $76.24, up 5% a day. The story of Bitcoin miners was no different as the two men engaged in a heated public exchange over social media and press briefings on June 6. MARA Holdings (MARA) fell as much as 7% yesterday but was trading at $15.93, up 7.02% a day. Hut 8 Group (HUT) had similarly slipped by 7% the day before but rallied an impressive 14.83% to trade at $18.74. HIVE Digital (Nasdaq: HIVE) had slid around 9% yesterday and made the same recovery of 9% today to trade at $2.0042. Bitdeer (Nasdaq: BTDR) had also slipped 9% and successfully recovered by 11% to trade at $14.07 today. Notably, the stablecoin issuer Circle Internet Group (NYSE: CRCL) made an impressive debut on the day of the feud. CRCL was trading at $116.07 at press time, up 40% a day. Musk, who quit the Department of Government Efficiency (DOGE) by the end of May, has been criticizing Trump's "big, beautiful bill" since then. The disagreement escalated into an ugly public exchange the previous day that shook the markets. Stocks rally as Trump-Musk feud cools down first appeared on TheStreet on Jun 6, 2025 This story was originally reported by TheStreet on Jun 6, 2025, where it first appeared. Sign in to access your portfolio
Yahoo
06-06-2025
- Business
- Yahoo
Bitdeer's unique in-house ASIC chip design powers its mining edge
Bitdeer's unique in-house ASIC chip design powers its mining edge originally appeared on TheStreet. In an interview with TheStreet Roundtable, Jeff LaBerge, Bitdeer's Head of Capital Markets, said, 'This year, we're one of the largest publicly traded Bitcoin miners in the universe right now. We're just under about 13 exahash, looking to grow to just over 40 by the end of the year.' He noted that Bitdeer controls 'one of the largest power portfolios with just over 2.8 GW of power, about 900 to 1000 of that is online right now.' LaBerge stressed, 'We are a technology company rather than a traditional mining operator. Not only are we a user of Bitcoin mining rigs, but we are now designing and manufacturing the chips and rigs for our own use and for third parties.' He credited founder Jihan Wu's long history in both Bitcoin and mining, noting, 'Our founder is Jihan Wu, which most people are familiar with. He's got a very long history in the Bitcoin and the mining space.' He described Bitdeer's ASIC manufacturing as 'very unique, very intricate and very niche,' adding, 'Very few others are able to do that and do that well.' By building its own chips, Bitdeer tightly controls production costs and performance. Bitdeer's global expansion further bolsters its tech-driven, eco-friendly model. The company operates about 700 to 800 MW in the U.S. and nearly 300 MW in Norway. A 500 MW hydroelectric facility in Bhutan will be '100% powered by hydroelectricity' LaBerge said. He explained, 'Global expansion is really helping our business model because we're not geographically constrained to one location,' highlighting their ability to leverage diverse power markets. As an additional service, LaBerge described Bitdeer's cloud mining platform as an easy on-ramp. 'With just a few clicks, you can start mining using our hardware, our infrastructure and our economies of scale, without having to procure your own miners or find data center space for them,' he said. He added that subscriptions range 'from a single terahash up to several petahash if you want,' making it accessible to both retail and institutional clients. By combining proprietary chip design, a diversified power portfolio anchored by hydroelectricity, and accessible cloud services, Bitdeer positions itself as a technology-led, ESG-friendly partner for investors. Bitdeer's unique in-house ASIC chip design powers its mining edge first appeared on TheStreet on Jun 6, 2025 This story was originally reported by TheStreet on Jun 6, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-05-2025
- Business
- Yahoo
Bitcoin Slips Below $104K, Cryptos Slide as U.S.-China Tariff Tensions Flare Up
Markets went red on Friday on renewed tariff-related apprehensions. Bitcoin BTC is down 2.1% in the last 24 hours, trading just above $104,000 after briefly hitting a session low of $103,900. The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, except for stablecoins, memecoins and exchange coins — slumped even further, by 4.2%. Smart contract platforms were particularly affected, with solana SOL, sui SUI and avalanche AVAX losing 6.3%, 7.8% and 7.3% respectively. Crypto stocks also took a hit, especially bitcoin mining firm Bitdeer (BTDR), down 8.3% on the day after a run-up that saw the stock rise 132% from April 16 to May 21. Strategy (MSTR) slid 2.7%, and Coinbase (COIN) 1.3%. The bleeding wasn't contained to crypto. The S&P 500 and Nasdaq are down 1% and 1.5% respectively, while gold lost 0.7%. Behind the price action was the flare-up of U.S. trade tensions once again after an agreement was struck earlier this month. The concerns came after President Donald Trump accused China in a post on Truth Social of "violating" the tariff truce between the countries. Meanwhile, Treasury Secretary Scott Bessent said in a Fox News interview that talks had "stalled" with the Chinese representatives. China, in response, urged the U.S. to "immediately correct its erroneous actions, cease discriminatory restrictions," BBC reported. The cool-off between U.S. and China helped risk assets rally in May, providing a tailwind for BTC to clinch a new record high. The re-escalation now threatens to unwind some of those in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
