Bitcoin Mining Stock Bitdeer Technologies Is Rising Thursday: What's Going On?

Bitdeer Technologies Group BTDR shares are trading higher. The company on Thursday announced that it completed the testing of its latest Bitcoin BTC/USD mining chip.

What To Know: Bitdeer said its Bitcoin mining chip SEAL02 has successfully gone through testing following tape-out. SEAL02 uses advanced process nodes in partnership with Taiwan Semiconductor Manufacturing Company Ltd TSM.

Bitdeer noted that its latest chip showed an exceptional power efficiency ratio during testing and met the milestone that the company outlined in June.

“We are thrilled about achieving SEALMINER’s power efficiency target as reflected in our roadmap. Our ongoing commitment to R&D is making possible innovative and superior solutions that will set new benchmarks for efficiency and transparency to benefit the wider mining ecosystem,” said Linghui Kong, chief business officer of Bitdeer.

SEAL02 will be integrated into the company’s upcoming SEALMINER A2 mining machines. Bitdeer said mass production is scheduled to commence in November. The company also noted that research and development work on SEAL03 is ongoing and remains on track.

See Also: Anthony Pompliano Says Bitcoin Set To Be ‘A Big Winner’ In Coming Months Due To ‘Cheap Money Floating Into The System’

How To Buy BTDR Stock

By now you're likely curious about how to participate in the market for Bitdeer Technologies – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. In the case of Bitdeer, which is trading at $7.54 as of publishing time, $100 would buy you 13.26 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

BTDR price Action: Bitdeer shares were up 3.85% at $7.83 at the time of publication, according to Benzinga Pro.

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