Bitdeer Technologies Holding is a Bitcoin mining company co-founded by Jihan Wu. Sources with knowledge of the matter informed Bloomberg that the company is in search for an approximate $100 million investment to improve its mining powers.
The Singapore-based company is said to be looking forward to acquiring additional funds to increase its mining power. In particular, it wants to get prepared for the fourth halving, which is set to happen in April and drop mining payouts. But the exact value of Bitdeer after funding that was raised is not currently official yet because negotiations remain to go on and the financing structure may change.
Bitdeer’s Funding Talks Amid Bitcoin Halving
Bitdeer is a public company on Nasdaq that was founded in 2018 and is known by the ticker symbol BTDR. As a result of the current funding talks, the company is yet to issue any public statements about them.
The fourth halving of Bitcoin is coming up soon, which will cut mining rewards in half from 6.25 BTC to 3.125 BTC in the middle of April. It is possible that this decline in rewards will make mining less profitable, particularly for startups in the business.
In addition to the impending splitting event, miners also have to deal with a number of other problems. Spot Bitcoin ETFs were just given approval, offering traditional investors another way to get into the crypto market. This could make them not as dependent on crypto-focused mining stocks as an alternative to access Bitcoin.
