Bitdeer’s Bitcoin holdings have seen a significant increase since the beginning of the year

Since the beginning of the year, publicly traded Bitcoin miner Bitdeer has increased its Bitcoin holdings by approximately 75%.

The firm’s latest investor release reveals that it generated 110 Bitcoin in February through self-mining activities, a slight decrease from January’s 126 BTC due to fewer days in the month.

One-third of Bitdeer’s business comprises self-mining, where the company mines for its own holdings alongside cloud hash subscription and hosted mining services.

Bitdeer’s total Bitcoin holdings now stand at 1,039 BTC, valued at nearly $87 million today—a significant increase from December’s 594 BTC. Other publicly traded Bitcoin miners such as MARA and Riot Platforms hold 45,659 BTC and 18,692 BTC, respectively, making them the largest holders among public miners.

Having surpassed 1,000 BTC in holdings, Bitdeer now meets the criteria set by crypto asset manager Bitwise’s new ETF that tracks publicly traded companies with Bitcoin holdings. However, there is no confirmation yet of Bitwise adding the company’s shares to the ETF.

Apart from the self-mining update, Bitdeer also shared updates on infrastructure construction across various global locations.

Trading on the Nasdaq Exchange as BTDR, Bitdeer’s shares closed today with a 1.32% increase at $10.71 per share. The company reported a fourth-quarter loss of $532 million recently, leading to a 20% drop in its stock price.

A filing from last year indicated that stablecoin firm Tether holds a 25% stake in the Singapore-based miner.

While BTDR shares have declined by over 50% year-to-date, they have seen a 70% rise in the past 12 months.

Edited by Andrew Hayward