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Bitcoin Mining Company Seizes Opportunity to Build Its Stash
Bitdeer Technologies, a bitcoin mining company, has bought 50 bitcoin, taking advantage of the largest cryptocurrency’s price drop. The company purchased the cryptocurrency at an average price of $81,475 per bitcoin.
This significant purchase takes Bitdeer’s total bitcoin treasury to 855 BTC, valued at approximately $69 million, according to data from Bitcoin Treasuries.
Company’s Shares Fall Amid Crypto Market Volatility
Bitdeer’s shares fell 0.64% at the open, just below $11, as the crypto market experienced a 4% drop over the past 24 hours. However, the crypto market rallied at the start of U.S. trading hours, pushing BTC above $82,000.
Frequently Asked Questions
Q: Why did Bitdeer Technologies buy 50 bitcoin?
A: Bitdeer Technologies took advantage of the opportunity to buy 50 bitcoin, seizing the chance to build its stash as the price of the largest cryptocurrency looked set for its worst month since June 2022.
Q: How much did Bitdeer pay for the 50 bitcoin?
A: The company paid an average of $81,475 per bitcoin for the 50 bitcoin it purchased.
Q: What is the total value of Bitdeer’s bitcoin treasury now?
A: The total value of Bitdeer’s bitcoin treasury is approximately $69 million, based on the current price of $82,000 per bitcoin.
Q: How did Bitdeer’s shares perform after the announcement?
A: Bitdeer’s shares fell 0.64% at the open, just below $11, but the crypto market rallied at the start of U.S. trading hours, pushing BTC above $82,000.
