Bitdeer Technologies (BTDR) has announced its acquisition of 50 bitcoin (BTC) as the cryptocurrency experienced its worst month since June 2022. The bitcoin mining company took advantage of the price decline to build its bitcoin stash. The average price paid per bitcoin was $81,475, according to Bitdeer Technologies.
This purchase brings Bitdeer’s total bitcoin treasury to 855 BTC, which is valued at approximately $69 million based on data from Bitcoin Treasuries.
Despite the acquisition, Bitdeer’s shares experienced a slight decline of 0.64% at the market open, as both bitcoin and the broader crypto market dropped by 4% in a 24-hour period. However, the crypto market later rallied during U.S. trading hours, pushing BTC above $82,000.
It is important to note that investing in cryptocurrencies carries risks, and investors should conduct thorough research and seek professional advice before making any investment decisions.
