Bitdeer continues to acquire Bitcoin despite its declining value, leading to a minor increase in company shares post-market.
Bitdeer's Recent Investments
On February 28, Bitdeer announced the purchase of 50 BTC at an average price of $81,475 each. This acquisition brings the company's holdings to over 640 BTC, representing 0.003% of Bitcoin's total supply.
Current Cryptocurrency Market Situation
Bitcoin is currently experiencing a decline, having dropped below $80,000 and settling at $78,770. The broader cryptocurrency market is also showing negative trends, with the total market capitalization down by over 8%.
Infrastructure Development Plans
Recently, Bitdeer acquired a 101 MW power plant in Alberta for $21.7 million, with plans to use it for BTC mining. The company also secured approval to build a 99 MW interconnection grid with Alberta Electric System Operator, worth approximately $30 million.
Regardless of the current market trends, Bitdeer continues to expand its presence in the cryptocurrency space and deepen its investments in infrastructure for future growth.
