Publicly traded Bitcoin miner Bitdeer has increased its Bitcoin holdings by about 75% since the year began.
The firm’s latest investor release provides an update on its self-mining activity, which produced 110 Bitcoin in February—a small decrease from January’s mark of 126 BTC, which it attributes to last month having fewer days.
Self-mining, which refers to the company mining for its own holdings, makes up one-third of the company’s business ventures, alongside its cloud hash subscription and hosted mining solutions.
The firm’s total holdings have now risen to 1,039 Bitcoin, or nearly $87 million at today’s prices—a roughly 75% jump from December’s holdings of 594 BTC. Other publicly traded Bitcoin miners like MARA and Riot Platforms hold 45,659 BTC and 18,692 BTC, respectively, making them the biggest holders among public miners.
With more than 1,000 Bitcoin in holdings, the company now meets the threshold outlined by crypto asset manager Bitwise in its newly launched ETF that tracks publicly traded companies with Bitcoin holdings. However, Bitwise has not yet indicated that it plans to add the firm’s shares.
In addition to its self-mining update, Bitdeer also provided infrastructure construction updates on a variety of locations worldwide.
Bitdeer, which trades on the Nasdaq Exchange as BTDR, closed up 1.32% today at $10.71 per share. The company recently reported a fourth quarter loss of $532 million, dropping its stock price by 20% in the process.
A filing last year revealed that stablecoin firm Tether owns a 25% stake in the Singapore-based miner.
BTDR shares are down over 50% year-to-date, but have jumped by 70% over the last 12 months.
Edited by Andrew Hayward
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Source: https://decrypt.co/309714/bitcoin-miner-bitdeers-own-btc-holdings-surge-since-start-of-year
