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Bitdeer Technologies Group Stock Is Moving Higher Thursday: What's Going On?
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Bitdeer Technologies Group Stock Is Moving Higher Thursday: What's Going On?
Dec 5, 2024 7:46 AM

Bitdeer Technologies Group ( BTDR ) shares are trading higher on Thursday. The company announced a Bitcoin (CRYPTO: BTC) production and operations update.

What Happened: Bitdeer ( BTDR ) said it mined 150 bitcoin in November, down from 403 bitcoin mined in the same period last year.

The company’s Sealminer A1 is on track with 0.1 EH/s powered on, 0.4 EH/s delivered for installation, 0.3 EH/s in-transit to data centers and 2.6 EH/s in production. The company also said it secured wafer capacity for Sealminer A2 expected to generate approximately 35 EH/s of hashrate in 2025.

Client-hosted machines increased by 11,000 units or 2.6 EH/s last month. The company said discussions are ongoing with multiple development partners and potential end users for selected sites in its high-performance computing (HPC) business.

Bitdeer ( BTDR ) also said it expanded AI cloud services to the United States and Holland, expanding service reach from Singapore and Canada.

“2025 is going to be a transformative year for Bitdeer ( BTDR ). The launch of our SEALMINER A2 last month has generated tremendous interest,” said Linghui Kong, chief business officer of Bitdeer ( BTDR ).

“Our initial plan of selling ~30,000 units to external customers has been fully reserved by customers, signaling the industry’s strong demand for cutting-edge technology and a diversified supply chain. Further, at the end of November, we increased our SEALMINER A2 production through Q3 2025 to 35 EH/s, up from 18 EH/s, based on the secured wafer capacity, significantly increasing our ability to ramp our self-mining hashrate and sales inventory.”

Check This Out: Bitcoin To Emerge As ‘Premier Store Of Value Asset,’ Hit $1 Million By 2033, Says Bernstein

How To Buy BTDR Stock

By now you're likely curious about how to participate in the market for Bitdeer Technologies ( BTDR ) – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. In the case of Bitdeer Technologies ( BTDR ), which is trading at $16.08 as of publishing time, $100 would buy you 6.22 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

BTDR Price Action: Bitdeer ( BTDR ) shares were up 10.8% at $17.80 at the time of publication, according to Benzinga Pro.

Photo: Shutterstock.

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