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BitDeer Emerges as One of the World's Largest Bitcoin Mining Companies Following Successful IPO
Summary: Bitdeer has become one of the world's largest Bitcoin mining companies just three months after its initial public offering (IPO), according to Blockworks. The company started trading on Nasdaq on April 14 through a special purpose company acquisition merger with Blue Safari Group Acquisition Corp. Bitdeer CEO Matt Linghui Kong said that the listing has ...
Bitdeer has become one of the world's largest Bitcoin mining companies just three months after its initial public offering (IPO), according to Blockworks. The company started trading on Nasdaq on April 14 through a special purpose company acquisition merger with Blue Safari Group Acquisition Corp.
Bitdeer CEO Matt Linghui Kong said that the listing has significantly enhanced the company's visibility and credibility. The company's stock closed at $7.03 on its first day of trading and dropped to as low as $4.60 in the subsequent weeks. However, as of Monday morning, the stock was trading at approximately $14, marking a 31% increase compared to a month ago.
Bitdeer's market cap stands at $1.56 billion, placing it behind only Marathon Digital Holdings and Riot Platforms. Managing director of cryptocurrency advisory firm Architect Partners Peter Stoneberg said Bitdeer being majority-owned by bitcoin mining rig developer Bitmain gives it a strategic advantage. Furthermore, Bitdeer has a relatively limited number of publicly available shares, with only 24% of its shares accessible to the general public, which is another factor that has contributed to the significant surge in its stock price.
Author: Katie Lin
Tags: Bitdeer,initial public offering,IPO,Matt Linghui Kong
Link: BitDeer Emerges as One of the World's Largest Bitcoin Mining Companies Following Successful IPO [Copy]
