Latest news with #Bitdeer
Yahoo
11 hours ago
- Business
- Yahoo
Stocks rally as Trump-Musk feud cools down
Stocks rally as Trump-Musk feud cools down originally appeared on TheStreet. Crypto stocks bounced back on June 7 as both President Donald Trump and Tesla (Nasdaq: TSLA) boss Elon Musk retreated from their big, ugly feud from the previous day. Strategy (Nasdaq: MSTR), which had dipped around 6% yesterday, was trading at $375.01 at press time, up 1.69% a day. Helmed by Michael Saylor, the company is the largest public Bitcoin treasury company. The largest U.S. crypto exchange Coinbase (Nasdaq: COIN) had slipped as much as 10% the day before. The stock, which made it to the much-coveted spot on the S&P 500 in May, was trading at $254.31, up 4% a day. The crypto and stock trading exchange Robinhood (Nasdaq: HOOD) dipped around 8% on the day of the feud. It was trading at $76.24, up 5% a day. The story of Bitcoin miners was no different as the two men engaged in a heated public exchange over social media and press briefings on June 6. MARA Holdings (MARA) fell as much as 7% yesterday but was trading at $15.93, up 7.02% a day. Hut 8 Group (HUT) had similarly slipped by 7% the day before but rallied an impressive 14.83% to trade at $18.74. HIVE Digital (Nasdaq: HIVE) had slid around 9% yesterday and made the same recovery of 9% today to trade at $2.0042. Bitdeer (Nasdaq: BTDR) had also slipped 9% and successfully recovered by 11% to trade at $14.07 today. Notably, the stablecoin issuer Circle Internet Group (NYSE: CRCL) made an impressive debut on the day of the feud. CRCL was trading at $116.07 at press time, up 40% a day. Musk, who quit the Department of Government Efficiency (DOGE) by the end of May, has been criticizing Trump's "big, beautiful bill" since then. The disagreement escalated into an ugly public exchange the previous day that shook the markets. Stocks rally as Trump-Musk feud cools down first appeared on TheStreet on Jun 6, 2025 This story was originally reported by TheStreet on Jun 6, 2025, where it first appeared. Sign in to access your portfolio
Yahoo
18 hours ago
- Business
- Yahoo
Bitdeer's unique in-house ASIC chip design powers its mining edge
Bitdeer's unique in-house ASIC chip design powers its mining edge originally appeared on TheStreet. In an interview with TheStreet Roundtable, Jeff LaBerge, Bitdeer's Head of Capital Markets, said, 'This year, we're one of the largest publicly traded Bitcoin miners in the universe right now. We're just under about 13 exahash, looking to grow to just over 40 by the end of the year.' He noted that Bitdeer controls 'one of the largest power portfolios with just over 2.8 GW of power, about 900 to 1000 of that is online right now.' LaBerge stressed, 'We are a technology company rather than a traditional mining operator. Not only are we a user of Bitcoin mining rigs, but we are now designing and manufacturing the chips and rigs for our own use and for third parties.' He credited founder Jihan Wu's long history in both Bitcoin and mining, noting, 'Our founder is Jihan Wu, which most people are familiar with. He's got a very long history in the Bitcoin and the mining space.' He described Bitdeer's ASIC manufacturing as 'very unique, very intricate and very niche,' adding, 'Very few others are able to do that and do that well.' By building its own chips, Bitdeer tightly controls production costs and performance. Bitdeer's global expansion further bolsters its tech-driven, eco-friendly model. The company operates about 700 to 800 MW in the U.S. and nearly 300 MW in Norway. A 500 MW hydroelectric facility in Bhutan will be '100% powered by hydroelectricity' LaBerge said. He explained, 'Global expansion is really helping our business model because we're not geographically constrained to one location,' highlighting their ability to leverage diverse power markets. As an additional service, LaBerge described Bitdeer's cloud mining platform as an easy on-ramp. 'With just a few clicks, you can start mining using our hardware, our infrastructure and our economies of scale, without having to procure your own miners or find data center space for them,' he said. He added that subscriptions range 'from a single terahash up to several petahash if you want,' making it accessible to both retail and institutional clients. By combining proprietary chip design, a diversified power portfolio anchored by hydroelectricity, and accessible cloud services, Bitdeer positions itself as a technology-led, ESG-friendly partner for investors. Bitdeer's unique in-house ASIC chip design powers its mining edge first appeared on TheStreet on Jun 6, 2025 This story was originally reported by TheStreet on Jun 6, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-05-2025
- Business
- Yahoo
Bitcoin Slips Below $104K, Cryptos Slide as U.S.-China Tariff Tensions Flare Up
Markets went red on Friday on renewed tariff-related apprehensions. Bitcoin BTC is down 2.1% in the last 24 hours, trading just above $104,000 after briefly hitting a session low of $103,900. The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, except for stablecoins, memecoins and exchange coins — slumped even further, by 4.2%. Smart contract platforms were particularly affected, with solana SOL, sui SUI and avalanche AVAX losing 6.3%, 7.8% and 7.3% respectively. Crypto stocks also took a hit, especially bitcoin mining firm Bitdeer (BTDR), down 8.3% on the day after a run-up that saw the stock rise 132% from April 16 to May 21. Strategy (MSTR) slid 2.7%, and Coinbase (COIN) 1.3%. The bleeding wasn't contained to crypto. The S&P 500 and Nasdaq are down 1% and 1.5% respectively, while gold lost 0.7%. Behind the price action was the flare-up of U.S. trade tensions once again after an agreement was struck earlier this month. The concerns came after President Donald Trump accused China in a post on Truth Social of "violating" the tariff truce between the countries. Meanwhile, Treasury Secretary Scott Bessent said in a Fox News interview that talks had "stalled" with the Chinese representatives. China, in response, urged the U.S. to "immediately correct its erroneous actions, cease discriminatory restrictions," BBC reported. The cool-off between U.S. and China helped risk assets rally in May, providing a tailwind for BTC to clinch a new record high. The re-escalation now threatens to unwind some of those in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21-05-2025
- Business
- Yahoo
‘We have the power': Bitdeer exec explains why miners are in demand beyond crypto
Bitcoin mining isn't just about Bitcoin anymore — it's becoming a much bigger story about energy, infrastructure, and cutting-edge technology. That's how Bitdeer's Jeff LaBerge sees it. Speaking to TheStreet Roundtable's Rob Nelson, the exec said the company is now attracting a broader audience beyond just crypto fans. 'The universe of investors has gotten significantly larger really in the past year,' LaBerge said. 'Now a lot of that's had to do with the energy play.' He explained that thanks to the rise of AI and big cloud computing needs, power infrastructure is more critical than ever — and Bitcoin miners like Bitdeer are right in the middle of that transition. 'We happen to have a lot of power at the right time,' he noted, making miners part of the new energy conversation. What's also unique about Bitdeer, LaBerge added, is the tech. The company makes its own Bitcoin mining rigs, called ASICs. 'We're truly a technology company,' he said, adding that investors from sectors like semiconductors are now starting to take interest. 'We are producing a disruptive technology.' When asked if Bitdeer would ever launch its own token to raise capital, LaBerge didn't rule it out. 'It's going to become a new market, a new way to raise capital and securitize things,' he said. 'We haven't thought significantly about it, but I do think we're going to start seeing more of it.' On the topic of crypto regulation, LaBerge hopes that real clarity is coming soon. 'What the market doesn't like is uncertainty,' he said. 'There's less uncertainty than before — it's more sentiment now — but we really need to start seeing some action.' Bitdeer is ramping up its self-mining operations, aiming to reach a hashrate of 40 exahashes per second (EH/s) by the end of 2025 — a significant leap in computing power dedicated to securing the Bitcoin network. Hashrate refers to the total computational power used by a blockchain network to process transactions and secure the system. In Bitcoin mining, a higher hashrate means more machines are working to solve complex cryptographic puzzles. This boosts network security and increases the likelihood of earning mining rewards. The company is relying on its SEALMINER rigs and ample global power capacity to fuel this growth. Additionally, Bitdeer has reportedly been expanding its U.S. operations as a strategic hedge against potential trade war escalations. As of March, Tether held a 21% stake in the company, according to regulatory filings. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-05-2025
- Business
- Yahoo
Bitcoin Network Hashrate Rose Slightly in First Two Weeks of May: JPMorgan
The Bitcoin network hashrate rose 2% in the first two weeks of May to an average of 885 exahashes per second (EH/s), Wall Street bank JPMorgan (JPM) said in a research report Friday. The hashrate refers to the total combined computational power used to mine and process transactions on a proof-of-work blockchain, and is a proxy for competition in the industry and mining difficulty. Miner profitability improved in May, as the price of bitcoin BTC rose, and gross margins expanded, the bank said. The hashprice, a measure of daily mining profitability, rose 13% from April, which the bank said was "encouraging." "We estimate miners earned ~$50,100 in daily block reward revenue per EH/s over the first two weeks of the month, up 13% from last month and 3% y/y," analysts Reginald Smith and Charles Pearce wrote. U.S.-listed miners maintained their share of the network hashrate, and currently account for about 30.5% of the network, a 1.1% increase from April, the bank said. The total market cap of the 13 U.S.-listed bitcoin mining stocks that the bank tracks rose 24%, or $4.6 billion, this month. Bitdeer (BTDR) outperformed with a 43% gain, while Greenidge (GREE) underperformed the sector with a 5% decline, the report in to access your portfolio
