Summary
- Bitdeer said its recent bitcoin sale is not a negative signal for the broader market.
- It said the sale was part of a strategic cash-management move to secure liquidity ahead of opportunities to acquire power-backed sites.
- Bitdeer said its hashrate will continue to rise and that it will keep mining more bitcoin for shareholders’ benefit.
Bitcoin (BTC) mining firm Bitdeer said its recent decision to sell bitcoin is not a negative signal for the broader market.
Earlier, Bitdeer drew market attention after reports that it had sold bitcoin it held. The company explained that the move was part of a strategic cash-management plan.
According to Bitdeer’s X (X, formerly Twitter) post on the 23rd, the company said, "The decision to sell bitcoin is not something the market should be concerned about," adding, "We are currently reviewing several non-binding opportunities to acquire power-backed sites, and we determined it is reasonable to secure liquidity in preparation."
Meanwhile, Bitdeer stressed that its hashrate (mining computing power) will continue to increase. It also added, "We will continue mining more bitcoin for the benefit of shareholders."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
