Bitdeer Sets Up $250M Fund to Acquire Assets From Financially Distressed Bitcoin Miners
According to a representative from the bitcoin mining company backed by the Chinese crypto billionaire Jihan Wu, Bitdeer is crafting a $250 million fund to buy distressed assets from embattled bitcoin miners. Bitdeer’s chief executive officer Matt Kong details that “opportunities” arise in “every cycle.”
Bitdeer is setting up a fund to purchase assets from financially distressed bitcoin miners, according to statements Matt Kong made to Bloomberg’s David Pan. Bitdeer is a crypto mining operation backed by former Bitmain CEO Jihan Wu and the company just recently purchased a large-scale vault in Singapore. Bitcoin and cryptocurrency miners, in general, have been suffering from the crypto winter’s downturn.
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