BitDeer raises mining funds in Bhutan, company buyback + VanEck support, BTDR remains stable at $10
According to Wu Blockchain, Wu Jihan's Bitdeer is raising funds through the Bitdeer Green Bitcoin Fund (BGB). The investment target is the Bitcoin mining industry in Bhutan. The fund has a term of 6 years, with a minimum investment of $5 million and an initial fundraising target of $80 million.
Table of Contents
Company Buyback + VanEck Support, BTDR Steady at $10
BitDeer, listed on Nasdaq in April under the stock code BTDR, initially fell below the IPO price. However, in June, the company announced a stock buyback plan, leading to a rise in stock prices, which reached $14 at one point.
Today, it has also become the second largest holding of the VanEck Crypto and Blockchain Innovators UCITS ETF, a fund under VanEck focused on blockchain startups, second only to Coinbase. The fund manages assets of $65.1 million and has a year-to-date return of 206%.
(For more information on BitDeer: BitDeer releases 2022 financial report, stock price continues to remain below IPO price after shell listing)
Related
- When Meme Coins Meet Art: Sotheby's Vice President Leads the Way in Speculating on Coins, BAN Reaches Nearly $100 Million in Market Cap
- Federal Reserve Bank: Taxing Bitcoin Could Save Fiscal Deficit, Would Heavy Tax Benefit Micro Strategies?
- Is the .io Domain, Beloved by Crypto Companies, in Crisis? Expert: Notion and AI Websites Using .AI Might Have More to Worry About