Bitdeer Sets Up $250M Fund to Acquire Assets From Financially Distressed Bitc...
According to a representative from the bitcoin mining company backed by the Chinese crypto billionaire Jihan Wu, Bitdeer is crafting a $250 million fund to buy distressed assets from embattled bitcoin miners. Bitdeer’s chief executive officer Matt Kong details that “opportunities” arise in “every cycle.” Bitdeer Wants to Acquire Cheap Machines From Distressed Bitcoin Miners Bitdeer is setting up a fund to purchase assets from financially distressed bitcoin miners, according to statements Matt Kong made to Bloomberg’s David Pan. Bitdeer is a crypto....
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Bitcoin miner Bitdeer has defended its decision to liquidate its Bitcoin holdings, saying it shouldn’t be a concern for the broader market. Bitdeer’s Bitcoin Holdings Have Hit Zero On Saturday, Bitdeer shared its weekly Bitcoin update in an X post, revealing that the company sold all of its mining output for the week. In total, […]
Sources have disclosed that the digital currency mining operation, Bitdeer Technologies, has purchased a high-security storage and display facility in Singapore called Le Freeport for $28.4 million. Bitdeer’s chairman, Jihan Wu, confirmed the vault acquisition via a text message following the reports that revealed the mining firm purchased Le Freeport.
Bitdeer Purchases Maximum Security Vault Le Freeport From Yves Bouvier, DBS
After the co-founder of Bitmain Technologies Jihan Wu left the company, he co-founded a firm called Matrixport and he’s also the chairman of....
PRESS RELEASE. Nov 14th, 2022 – Leading global cryptocurrency exchange Bitget announces that it has set aside a 5 Million USD worth of Builders’ Fund, aiming to help those affiliates, influencers and professional traders who are distressed by the FTX collapse. The market witnessed the collapse of FTX within a week, and worse still, the exchange announced their wallet was hacked after filing for bankruptcy protection in the US. The remaining funds in the company have been wiped out completely. No one is the winner in this chaos, as it continues to harm the whole industry. Due to the....
As the bitcoin price continues to struggle, investors are showing interest in buying distressed bitcoin mining assets.
Bitdeer Technologies Group has emptied its Bitcoin treasury, selling every coin on its books and bringing its corporate balance to zero. Related Reading: Storm Over BTC Trades: Metaplanet CEO Denies Hiding Details The move follows weeks of steady disposals and comes as the company pursues fresh capital to fund expansion plans outside pure mining. Bitdeer […]