Bitdeer Technologies Expands Bitcoin Holdings Amid Market Fluctuations

According to CoinDesk, Bitdeer Technologies (BTDR) has announced the acquisition of 50 bitcoin (BTC), capitalizing on the opportunity as the cryptocurrency's price appeared poised for its most significant monthly decline since June 2022. The bitcoin mining company disclosed via a tweet that it paid an average price of $81,475 per bitcoin for this purchase. This acquisition increases Bitdeer's total bitcoin holdings to 855 BTC, valued at approximately $69 million, based on data from Bitcoin Treasuries. Despite this strategic move, the company's shares experienced a slight decline, falling 0.64% at the market open to just below $11. This drop coincided with a broader downturn in the cryptocurrency market, which saw bitcoin and other digital assets decrease by 4% over a 24-hour period. However, the crypto market showed signs of recovery at the start of U.S. trading hours, with bitcoin prices climbing above $82,000.