What's Going On With Bitcoin Miner Bitdeer Technologies Stock?

Bitdeer Technologies Group BTDR shares are trading higher Tuesday, adding to gains of more than 50% over the past five trading sessions. Here's a look at what's going on with the Bitcoin miner.

What To Know:

Bitdeer shares are climbing on heavy trading volume Tuesday with more than 2.5 million shares already traded in the session. According to data from Benzinga Pro, the stock's 100-day average volume is less than 728,000.

Bitdeer Technologies released a November operations update earlier this month, which showed that the company mined 403 Bitcoins in November, representing a year-over-year increase of 81.5%.

Investors are eagerly anticipating the possible approval of a spot Bitcoin ETF and Bitcoin BTC/USD continues to rally and is currently trading near two-year highs which may be contributing to recent gains in Bitdeer Technologies shares. The stock is up more than 175% over the past month.

Related News: Why Coinbase Global Stock Is Up Today

BTDR Price Action: According to Benzinga Pro, Bitdeer Technologies shares were up 20% at $12.28 at the time of publication.

Image: Pete Linforth from Pixabay