BTC miner Bitdeer makes its debut on the Nasdaq

The company from bitcoin mining of the crypto billionaire Jihan Wu is now listed on the Nasdaq. The stock Bitdeer Technologies a lost near 30% of its value following the listing.

On Friday, the title of the Bitcoin miner Asian Bitdeer began trading on the Nasdaq under the symbol BTDR.

The arrival of the mining firm of the co-founder and ex-director of Bitmain, Jihan Wuon the American stock exchange, comes about 1.5 years after its announcement of merger with SPAC Blue Safari Group.

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The deal, which was supposed to happen quickly at the time, ended up taking a while to get approved due to the challenging conditions in this nascent industry. Last year, cryptocurrency prices were battered with Bitcoin at less than $20,000 in the fall.

Based in Singapore, Bitdeer is one of the greatest bitcoin miners of the planet. The company, which owns a total of 6 mining farms in the US and Norway, claims a global hash rate of over 16 EH/s for an electrical capacity of 775 MW. It extracts BTC for its own account but also offers cloud services for other miners.

We are already one of the leading hashrate providers and our public listing will allow us to contribute even more to the crypto economy,” Bitdeer boss Linghui Kong boasted in a statement.

Yesterday, the price of BTDR share pricewhich debuted at around $10, quickly fell after its listing, dropping nearly 30% and closing at 7.03 dollars.

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Following disagreements with his partner about the strategy to be adopted by the ASIC manufacturer Bitmain, Jihan Wu created Bitdeer as well as a crypto financial services company called Matrixport.

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