Matrix Finance, led by Jihan Wu, has provided a $200 million credit facility to Bitdeer Technologies. This funding is aimed at enhancing Bitcoin mining operations.
Matrix Finance Backs Bitdeer with $200M Credit
Matrix Finance has extended a credit line of $200 million to Bitdeer Technologies Group as of April 2025. This funding enables Bitdeer to expand its Bitcoin mining capabilities in alignment with market needs.
Market Reaction: Bitdeer Shares Surge 22.88%
The announcement of the funding led to a strong market response, with Bitdeer shares increasing by 22.88%. This intensifies competition within the Bitcoin mining sector, particularly as mining margins narrow.
Bitdeer's Funding Strategy and Its Market Impact
Bitdeer had previously issued a $572.5 million convertible note, illustrating its strategy to utilize substantial funding for scaling operations. Historical patterns suggest that this could increase mining power and alter Bitcoin's market dynamics.
The $200 million credit from Matrix Finance marks a significant step for Bitdeer in its efforts to expand Bitcoin mining operations and solidify its competitive market position.
