Movement Alert|Bitdeer Technologies Group Rises 8.25% in Regular Trading, Malaysia A102 Facility Fully Operational With Contract Revenue Exceeding $800M

Market Focus08-27 21:54

On August 27, Bitdeer Technologies Group rose 8.25% in regular trading, trading at $11.51/share, with turnover of $25.38 million.

On the news front, the company released its July production and operations update on August 26, revealing that its 9.5MW A102 facility in Malaysia is now fully committed and operational, with expected contract revenue exceeding $800 million. Additionally, the company expects to complete the A201 capacity contract signing within the next month and begin collecting prepayments, signaling accelerating commercialization momentum.

The update also highlighted ongoing progress on the previously announced 16-year AI/HPC data center colocation lease for its Tydal, Norway campus, valued at approximately $4.7 billion, with 121 MW of IT capacity configured for NVIDIA GPUs and JP Morgan affiliates arranging a $1.3 billion credit backstop. The company mined 1,190 BTC in July. Earlier, Barclays initiated coverage at Overweight, with analysts maintaining an average Buy rating and mean price target of $20.90.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment