Bitdeer secures $60 million to expand ASIC production and self-mining as Bitcoin’s hashrate hits record highs and miner profits face pressure.
Bitcoin mining firm Bitdeer has secured a $60 million loan 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 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.
