Movement Alert｜Bitdeer Technologies Falls 8.21% in Regular Trading, Computing Power Rental Sector Rebound Fades as Meta Competition Fears Persist

Market Focus07-07

On July 7, Bitdeer Technologies declined 8.21% in regular trading, trading at $12.97/share, with turnover of $25.55 million.

On the news front, the computing power rental sector came under renewed pressure after a brief rebound proved unsustainable. Meta's announced plans to enter the AI computing cloud services market triggered a sector-wide selloff in early July, with Bitdeer accumulating over 17% in losses from July 1 to July 3. Although the sector staged an oversold bounce on July 6 with Bitdeer rising 8.09%, the recovery failed to hold. Peer stock IREN Ltd fell 8.93% on the same day, confirming broad sector weakness driven by shifting competitive dynamics.

Additionally, the company's previously announced colocation lease agreement for its AI data center in Tydal, Norway has not yet become effective and remains subject to external preconditions, providing limited near-term fundamental support.

(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.

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