Bitcoin Miner Bitdeer Seeks $100 Million for Mining Capacity Expansion

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Bitcoin miner Bitdeer is reportedly in discussions with private credit firms to secure $100 million in funding to expand its mining capacity. It is believed that the cryptocurrency miner has engaged a financial adviser to assist with the negotiations.

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Negotiations Between Bitdeer and Lenders Continue

The cryptocurrency mining firm Bitdeer Technologies Group is reportedly seeking to raise $100 million to boost its bitcoin mining capacity. According to a Bloomberg report, which cites unnamed sources, the crypto miner has already enlisted the services of a financial adviser.

Bitdeer has neither confirmed nor denied the claims. The Bloomberg report said discussions are ongoing between the crypto miner and private credit firms. However, the anonymous sources quoted in the report believe the details of the financing deals could still change.

Claims that Bitdeer is seeking to raise $100 million came a few weeks after the crypto miner announced plans to bolster bitcoin mining capacity via its proprietary Sealminer A1 mining rigs. As explained in a Bitcoin.com News report, Bitdeer is confident the newly installed rigs will help increase its hashrate by 3.4 EH/s this year.

The crypto miner’s planned deployment of the Sealminer A1 rigs in both Texas and Norway will result in Bitdeer retiring 1.4 EH/s of older mining rigs. This will, in turn, increase the crypto miner’s total proprietary hashrate from 8.4 EH/s to approximately 11.8 EH/s.

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Source: news.bitcoin.com.

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