Bitdeer (BTDR) Soars 14% as Bitcoin Mining Ops Jump in Aug

We recently published 10 Stocks with Surprising Gains. Bitdeer Technologies Group (NASDAQ:BTDR) is one of the best performers on Friday.

Bitdeer Technologies saw its share prices jump by 14.46 percent on Friday to finish at $16.15 apiece as investors welcomed its impressive Bitcoin mining operations 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 improvement from only 282 units mined in July this year.

This followed an increase in its self-mining hash rate of 30 EH/s, versus 22.3 EH/s the month prior.

Bitdeer (BTDR) Soars 14% as Bitcoin Mining Ops Jump in Aug

Pixabay/Public Domain

Looking ahead, Bitdeer Technologies Group (NASDAQ:BTDR) said it was on track to achieve its ambitious target of 40 EH/s of self-mining by the end of October 2025.

“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,” said Chief Business Officer Matt Kong.

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

The company said it would pay the notes on September 23, 2025, covering the aggregate principal amount and all accrued and unpaid interest.

Noteholders, however, still have the option to convert the notes into shares of the company, equivalent to 127.9743 Class A ordinary shares for every $1,000 principal amount of the notes. The conversion includes an increase to the conversion rate of 10.9536 Class A ordinary shares per $1,000 principal amount of the notes as a result of the notes being called for cleanup redemption.

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