Singapore’s Bitdeer Launches Closed-End Fund for Bitcoin Mining in Bhutan
Bitdeer Technologies, a bitcoin mining firm founded by Jihan Wu, has launched the Bitdeer Green Bitcoin Fund, a closed-end fund dedicated to mining bitcoin in Bhutan. The fund aims to raise $80 million for its first-phase construction project and plans to build mining projects in Bhutan with a total hashrate of nearly 20 EH/s. Bitdeer confirmed the report when contacted for comment. This move follows Bitdeer’s partnership with Bhutan’s state-owned investment company in May to raise up to $500 million for a crypto mining fund. Bitdeer went public on Nasdaq in April with a valuation of $1.18 billion.
Key Points:
- Bitdeer Technologies, founded by Jihan Wu, has launched the Bitdeer Green Bitcoin Fund for mining bitcoin in Bhutan.
- The fund aims to raise $80 million for its first-phase construction project.
- Bitdeer plans to build mining projects in Bhutan with a total hashrate of nearly 20 EH/s.
- Bitdeer confirmed the report when contacted for comment.
- Bitdeer previously announced a partnership with Bhutan’s state-owned investment company to raise up to $500 million for a crypto mining fund.
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Ambitions in Bhutan
Bitdeer Technologies, founded by Jihan Wu, has been expanding its presence in Bhutan. The company aims to leverage Bhutan’s zero-emissions power to sustainably enable blockchain technologies. Bitdeer went public on Nasdaq in April and has a market valuation of $1.18 billion.
Hot Take
Bitdeer’s launch of the Bitdeer Green Bitcoin Fund in Bhutan demonstrates its commitment to expanding its bitcoin mining operations in the country. By leveraging Bhutan’s zero-emissions power, Bitdeer aims to contribute to sustainable blockchain technologies. This move aligns with the company’s ambition to establish a global store of value through its mining projects. With its successful public listing on Nasdaq, Bitdeer is positioned to attract significant investment and further establish itself as a key player in the crypto mining industry.
