A fire has damaged two buildings at Bitdeer’s under-construction Bitcoin mining facility in Massillon, Ohio, compounding existing challenges for the Singapore-based crypto miner. While no injuries were reported and no mining equipment was affected, the incident comes amid significant stock price declines for the publicly traded company, with shares plummeting over 31% in the past week as Bitdeer faces both operational setbacks and substantial financial losses.
about Bitdeer Bitcoin Mining Site Fire in Ohio, Shares Drop 31%
BTDR
Bitdeer Stock Plunges 20% After Q3 $267M Loss
Bitcoin miner Bitdeer Technology Group saw its stock plummet 20% on Monday following disappointing third-quarter results that revealed a net loss of $266.7 million, representing a staggering 422% decline from the previous year. Despite nearly tripling its revenue to $169.7 million and beating analyst expectations, the company’s loss per share of -$1.28 significantly missed estimates, triggering the sharp selloff that erased gains made over the previous month.
about Bitdeer Stock Plunges 20% After Q3 $267M LossCanaan Stock Soars 40% on Gas-Powered Bitcoin Mining Pilot
Bitcoin mining hardware manufacturer Canaan Inc. (NASDAQ:CAN) saw its stock surge more than 40% to $1.52 on Monday following the announcement of a groundbreaking gas-to-compute pilot project in Alberta, Canada. The partnership with Calgary-based Aurora AZ Energy aims to convert distributed natural gas into power for Bitcoin mining operations while potentially reducing carbon emissions by 14,000 tons annually. Trading volume more than doubled as investors reacted to this innovative energy solution, marking one of Canaan’s busiest trading sessions this year.
about Canaan Stock Soars 40% on Gas-Powered Bitcoin Mining PilotBitdeer Expands Self-Mining Amid Weak Mining Rig Demand
Bitdeer Technologies Group is dramatically expanding its Bitcoin self-mining operations as demand for mining rigs softens, positioning the company to compete directly with its own hardware customers. This strategic pivot, detailed in recent company filings showing substantial year-over-year capacity growth, reflects a broader industry trend of hardware manufacturers turning to in-house mining operations during the current Bitcoin bull market as equipment sales face headwinds.
about Bitdeer Expands Self-Mining Amid Weak Mining Rig DemandTop 5 Crypto Stocks to Watch: Robinhood, Bitfarms Lead
MarketBeat’s stock screener has identified five key cryptocurrency stocks that merit investor attention today, including Robinhood Markets, Bitfarms, Galaxy Digital, HIVE Digital Technologies, and Bitdeer Technologies Group. These companies represent diverse segments of the crypto ecosystem, from trading platforms to mining operations, offering investors targeted exposure to the growing digital asset sector without direct cryptocurrency ownership.
about Top 5 Crypto Stocks to Watch: Robinhood, Bitfarms LeadBitdeer Seeks $330M in Convertible Notes, Stock Dips 23%
Bitdeer, a publicly traded Bitcoin mining firm, announced plans to raise $330 million via convertible notes due in 2031, upsizing the initial $300 million private placement. Unlike other crypto firms, Bitdeer will not use the funds to acquire Bitcoin but will allocate them for data center expansion, mining rig development, and other corporate purposes. Despite reporting an 18% increase in Bitcoin mined from April to May, Bitdeer’s stock (BTDR) fell over 7% to $11.80, marking a 23% monthly decline. The company holds 1,351 BTC, valued at around $140 million, but its shares have struggled amid broader challenges for Bitcoin miners.
about Bitdeer Seeks $330M in Convertible Notes, Stock Dips 23%Bitcoin Miners Rebound as BTC Hits New Highs
Bitcoin miners are experiencing a rebound as BTC prices hit record highs in May, with Nasdaq-listed Bitdeer producing 18% more coins than the previous month. The mining industry faced challenges earlier this year due to rising competition, reduced rewards post-halving, and BTC price drops, forcing some miners to sell coins to cover costs. However, the recent price surge has provided relief, with top miners like CleanSpark, MARA, Riot Platforms, and HIVE also increasing production. The U.S. leads in global hashrate, and political support for domestic mining could further shape the industry’s future.
about Bitcoin Miners Rebound as BTC Hits New HighsMARA Holdings Reports Decline in Bitcoin Production and Mining Metrics
MARA Holdings reported a 6% decline in blocks won and Bitcoin production in February, attributing the drop to increased network difficulty and fewer operational days. Despite a 21% decrease in shares over the past month, the company is nearing completion of a 40-megawatt data center in Ohio to enhance its mining capabilities. Rising energy costs and a competitive landscape continue to challenge the mining sector.
about MARA Holdings Reports Decline in Bitcoin Production and Mining MetricsBitcoin Miners Struggle Amid Market Decline and Halving Impact
Bitcoin mining stocks are facing significant challenges as prices decline, with a 22% drop in market capitalization reported in February. The recent halving event has halved mining rewards, leading to a 46% average drop in revenues and a 57% decline in gross profits. Despite optimism about AI-related business opportunities, miners are still under pressure from macroeconomic uncertainties and fluctuating demand for high-performance computing.
about Bitcoin Miners Struggle Amid Market Decline and Halving ImpactBitcoin and Solana Face Significant Declines Amid Market Turmoil
Bitcoin whales have sold over $1.2 billion amid worsening macroeconomic conditions, with Bitcoin’s price dropping to $86,099, leading to significant liquidations and losses across the market. Solana has seen a 50% decline from its all-time high, driven by reduced memecoin trading activity and a drop in its decentralized finance ecosystem’s total value locked (TVL) from $12 billion to $7.13 billion. As market confidence wanes, traders are closely monitoring key support levels for both Bitcoin and Solana, with potential for further declines.
about Bitcoin and Solana Face Significant Declines Amid Market TurmoilBitcoin miners pivot to AI and chip sales ahead of earnings reports
Analysts are focusing on Bitcoin miners’ revenues from AI computing and chip sales ahead of their Q4 earnings, as traditional mining profits decline due to the upcoming halving. Companies like Riot Platforms and Bitdeer are exploring adjacent business lines, with strong demand for ASIC chips and AI services. Riot is also reassessing its expansion plans to capitalize on high-performance computing opportunities, while Bitdeer is investing in infrastructure to support growth.
about Bitcoin miners pivot to AI and chip sales ahead of earnings reports