Bitdeer Increases Bitcoin Holdings as Market Faces Steep Decline
Bitdeer Technologies (BTDR) has taken advantage of Bitcoin’s price slump, adding 50 BTC to its reserves as the cryptocurrency experiences its worst monthly performance since June 2022.
The mining firm disclosed that it acquired Bitcoin at an average cost of $81,475 per coin, bringing its total stash to 855 BTC, now valued at approximately $69 million, according to Bitcoin Treasuries data.
Despite the accumulation, Bitdeer’s stock dipped 0.64% at market open, trading just below $11. Meanwhile, Bitcoin and the broader crypto market slid 4% over the past 24 hours before BTC briefly reclaimed the $82,000 level during U.S. trading hours.
