None
EN
Bitdeer Stock Drops 16.82% Despite Q2 Bitcoin Output Surge
['Kathleen Kinder', 'Written By', 'Reviewed By', 'Barry Elad', 'Michael G. Potter', 'Cfo', 'Bitdeer Technologies', 'Kathleen Kinder Brings Over Years Of Experience In The Research Industry', 'With Deep Expertise In Finance', 'Cryptocurrency']
CoinLaw
The BriefBitdeer shares dropped 16.82% to $9.05 on Monday, even after strong Q2 mining results.
Bitdeer Technologies Group (NASDAQ: BTDR), the Singapore-based bitcoin mining and AI infrastructure company, saw its shares drop 16.82% to $9.05 on Monday from a $10.88 previous close.
The slide came after Bitdeer filed unaudited second-quarter results with the U.S. Securities and Exchange Commission showing a near-fivefold jump in self-mined bitcoin output.
The filing shows Bitdeer mined 2,694 BTC in the second quarter, up 377% from 565 BTC a year earlier.
Bitdeer also disclosed it held just 150 BTC on its balance sheet at quarter’s end, down from 1,502 BTC a year earlier.