Bitdeer Technologies (BTDR) Jumps 30.77% as Bitcoin Mining Improves in Aug

We recently published 10 Stocks That Made Millionaires in Just a Week. Bitdeer Technologies Group (NASDAQ:BTDR) is one of the best performers in last week’s trading.

Bitdeer Technologies jumped by 30.77 percent week-on-week as investors cheered improved Bitcoin mining operations for last month.

In an updated report, Bitdeer Technologies Group (NASDAQ:BTDR) said it was able to mine 375 new Bitcoins in August, marking a 33 percent increase from 282 recorded in July.

During the period, the company operated at a self-mining hash rate of 30 EH/s, or an improvement from the 22 EH/s in July.

For October, Bitdeer Technologies Group (NASDAQ:BTDR) is targeting a 40 EH/s self-mining hash rate, which, it said, is currently “on track.”

“Over the coming quarters, we will continue expanding our ‘Sealminer’ fleet into our near-term global power capacity, putting us on track to become one of the largest vertically integrated miners in the world,” Chief Business Officer Matt Kong said.

In other news, Bitdeer Technologies Group (NASDAQ:BTDR) is set to pay $7.7 million of outstanding debt with the early redemption of its 8.5 percent convertible senior notes due 2029.

Under the terms, noteholders would be able to get the full principal amount, alongside accrued and unpaid interests, on September 23, 2025.

Noteholders also have the option to convert the notes into shares before the redemption date, equivalent to 127.9743 Class A shares for every $1,000 note.

The conversion includes upside of 10.9536 shares for every $1,000 principal amount, as a result of being called for cleanup redemption.

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Disclosure: None. This article is originally published at Insider Monkey.