Bitdeer Adds 50 More BTC to its Holdings As Bitcoin Trades Below $80K

• Bitcoin miner Bitdeer purchased 50 more Bitcoin today.
• Bitcoin market price is trading slightly below the $80,000 mark.

Bitcoin miner Bitdeer purchased 50 additional Bitcoins today as the BTC price fell below the $80,000 level. Bitcoin is trading at $78,893 at press time with around 9% drop in the last 24 hours. Despite the price drop, proponents are supporting Bitcoin purchase at these lower price levels.

Bitdeer announced earlier today that it acquired 50 Bitcoins on its official X account. It purchased these Bitcoins at an average price of $81,475 each. Even though the Bitdeer purchased BTC at much lower price than its ATH value, Bitcoin price went further below since the purchase.

Bitdeer Continues to Purchase BTC Amidst Bear Market Sentiment

Bitdeer purchased another 50 Bitcoins at an average price of $90,280 on Feb 25. Despite the bearish market sentiment, Bitdeer is showcasing its commitment to Bitcoin accumulation. It is one of the renowned Bitcoin mining firms in the world that believes in Bitcoin.

Bitdeer recently published its Q4 2024 report in which it discussed its financial results in detail. There was a significant decrease in its total revenue when compared to the previous year. In Q4 2024, Bitdeer recorded $69 million in total revenue, where this number was $114.8 million in Q4 2023.

Despite the decrease in revenue, Bitdeer is making several strategic plans to expand its operations. For instance, the firm allocated $250 – $270 millions of capex infrastructure to bring 1 GW of power online in 2025. Furthermore, it spent $195 million on chips in Q4 2024 and plans to capture a significant ASIC market share in Q1 2025.

While Trump’s tariffs and recent Bybit hack, combined with multiple US states rejecting the Bitcoin reserve bill, crypto market is facing a downturn. While Bitcoin is trading much below its ATH, its proponents are advocating Bitcoin accumulation at the current prices.