Bitdeer Shares Rise 15% on November Production, Higher Bitcoin Prices

Dow Jones

2024-12-05

By Chris Wack

Bitdeer Technologies Group shares rose after the company said it self-mined 150 bitcoin in November.

Shares were up 15% to $18.47 in recent trading. The stock is up almost 84% this year.

Bitcoin crossed the $100,000 mark for the first time late Wednesday, and is up 136% in the past 12 months. Bitcoin was trading at $103,329 a unit as of 9:45 a.m. ET.

The company also said its Tydal, Norway, 40 megawatt phase 1 expansion was expected to be ready for use by the end of December. Energization is currently pending regulatory approval.

Bitdeer's Rockdale, Texas, 100MW hydro-cooling conversion is on track for phased completion during the first quarter of 2025.

The company is expecting 1.1 gigawatts of new power capacity to come online in 2025.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

December 05, 2024 10:01 ET (15:01 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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The stock is up almost 84% this year. \n\n\n  Bitcoin crossed the $100,000 mark for the first time late Wednesday, and is up 136% in the past 12 months. Bitcoin was trading at $103,329 a unit as of 9:45 a.m. ET. \n\n\n  The company also said its Tydal, Norway, 40 megawatt phase 1 expansion was expected to be ready for use by the end of December. 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