Bitdeer secured $60 million to expand ASIC production and self-mining as Bitcoin’s hashrate hit record highs and miner profits faced pressure.
Bitcoin mining firm Bitdeer secured $60 million in loans to ramp up its Bitcoin ASIC manufacturing efforts as global mining competition intensifies amid record-breaking network hashrates.
According to its annual report, Bitdeer entered a loan agreement in April with affiliate firm Matrixport, a crypto financial services company founded by Bitdeer’s chairman, Jihan Wu.
The facility offers up to $200 million, backed by Bitdeer’s Sealminer hardware, with a floating interest rate of 9% plus market benchmarks. As of April 21, Bitdeer had drawn $43 million from the credit line.
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