Crypto Mining Giant Bitdeer Set for Nasdaq Debut

Singapore-based cryptocurrency mining firm Bitdeer Technologies has announced that it will go public on Nasdaq on April 14 merger with Blue Safari Group Acquisition. This move comes after facing multiple delays in sealing the $4 billion deal. Once the merger is completed, Bitdeer’s shares will start trading under the ticker symbol “BTDR” on Friday.

Founded by Chinese crypto tycoon Jihan Wu, Bitdeer is a cloud mining service that originated from Chinese mining machine producer Bitmain. The company currently operates six mining centers in the United States and Norway, boasting a combined power capacity of 775 megawatts as of the end of 2022.

Despite recording a net loss of $25.2 million in the first half of 2022 compared to a net profit of $113.8 million during the same period in 2021, Bitdeer’s CEO Linghui Kong remains optimistic. Kong said, “We are already a leading hash rate supplier, and our public listing will allow us to make even greater contributions to the crypto economy.”

The listing of Bitdeer on Nasdaq will enhance the company’s visibility in the market and create new opportunities for growth in the ever-evolving crypto mining industry.