Crypto News- Bitdeer Technologies, a Singapore-based Bitcoin mining company, founded by Jihan Wu, has unveiled its strategy to repurchase company shares worth up to $2 million. The company, listed on Nasdaq, shared this development in a recent Thursday statement, confirming the green light given by its board of directors for a new share repurchase program. This initiative is scheduled to remain in effect until April 17, 2024.
Bitdeer’s Share Buyback Program Targets 2 Million Dollars Worth of Shares
Within the framework of this repurchase program, Bitdeer has adopted a flexible approach, allowing it to buy back its shares through various avenues, such as open market transactions, privately negotiated deals, a combination of these methods, or any other legally acceptable means.
Bitdeer plans to fund these repurchases using its existing cash reserves. The company’s well-thought-out approach to implementing this share buyback program is designed to minimize any potential impact on its stock price while delivering long-term benefits to its valued shareholders.
In a separate statement issued earlier this month, Bitdeer’s CEO Linghui Kong, reported a significant upswing in the company’s Bitcoin mining endeavors. During the month of September, Bitdeer independently mined an impressive 482 bitcoins, indicating a remarkable 25.8% growth compared to the previous month and nearly tripling the quantity mined during the same period last year.
Leave a comment