Bitcoin

April

<div class="cryptonews">
 <p class="is-style-lead">Singapore-based Bitcoin (BTC) mining company Bitdeer Technologies wants to buy back its <a rel="noopener noreferrer nofollow" title="share" href="https://thebittimes.com/tag/share.html">share</a>s for up to $2 million.</p>
 <p>The Nasdaq-listed firm’s board of directors approved a new <a rel="noopener noreferrer nofollow" title="share" href="https://thebittimes.com/tag/share.html">share</a> repurchase program effective until April 17, 2024, the statement said.</p>
 <p>The program provides the opportunity to repurchase <a rel="noopener noreferrer nofollow" title="share" href="https://thebittimes.com/tag/share.html">share</a>s in a number of ways. Those include “open market transactions, privately negotiated transactions, any combination thereof or other legally permissible methods.”</p>
 <p>Representatives of the mining company explained that they were going to finance the ransom from the available balance of money.</p>
 <blockquote class="wp-block-quote">
  <p>“By gradually executing the <a rel="noopener noreferrer nofollow" title="share" href="https://thebittimes.com/tag/share.html">share</a> repurchase program, Bitdeer seeks to minimize the impact on its <a rel="noopener noreferrer nofollow" title="share" href="https://thebittimes.com/tag/share.html">share</a> price and generate greater long-term returns for its <a rel="noopener noreferrer nofollow" title="share" href="https://thebittimes.com/tag/share.html">share</a>holders.”</p> <cite>Bitdeer statement</cite>
 </blockquote>
 <p>In August, Bitdeer announced the completion of construction of a large farm with 23,000 ASIC miners in the Bhutanese city of Gedu.</p>
 <p>According to founder and CEO Linghui Kong, there are currently 11,000 devices running on the new Bitdeer farm, with the rest to be connected later. After the farm reaches its design capacity, the hashrate of Bitdeer equipment in Bhutan will reach 2.5 Eh/s.</p>
 <p>The firm later boasted that the company mined 482 bitcoins in September, up 25.8% from August. The firm currently operates 221,000 mining machines and maintains 895 MW of electrical power for its self-mining and cloud hashrate business. Mined cryptocurrencies are converted into fiat money.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Bhutan partners with Bitdeer and seeks to raise $500m
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitdeer-to-buy-back-shares-worth-up-to-2m-tbt67124.html">https://thebittimes.com/bitdeer-to-buy-back-shares-worth-up-to-2m-tbt67124.html</a></p>

Bitdeer to buy back shares worth up to $2m

TheBitTimes

Other articles published on Oct 20, 2023

Dave Weisberger Lists Factors that Will Boost Bitcoin

The Impact of Institutional Investment Tools on the Market

Bitcoin Exchange Binance Announces It Will Support Network Upgrades and Hardforks of These Altcoins!

Dump Alarm for This Altcoin That Has Increased 550 Percent Since August!

Blockchain Firm LBRY Ceases Operations, Cites Insurmountable Debt

Coinbase CLO Paul Grewal: SEC Must Approve a Spot Bitcoin ETF

Join our free newsletter for daily crypto updates!