Why These 10 Firms Recorded Double-Digit Gains Last Week

2. Bitdeer Technologies Group (NASDAQ:BTDR)

Bitdeer Technologies surged by 38.19 percent week-on-week to end at $10.53 apiece on Friday versus the $7.62 close on April 17 following news that it was offered as much as $200 million in credit facility to finance its expansion plans.

Earlier this week, Bitdeer Technologies Group (NASDAQ:BTDR) said that it entered into a loan agreement with Matrixport, a company also owned by its chairman, Jihan Wu, for a $200-million credit facility to finance its Bitcoin ASIC manufacturing efforts. The loan carries a variable interest rate of 9 percent and is repayable in fixed monthly installments over a period of 24 months.

As of April 2021, Bitdeer Technologies Group (NASDAQ:BTDR) said it was already able to draw as much as $43 million from the credit line.

In other news, BTDR recently acquired a 101-megawatt data center in Alberta, Canada, for $21.7 million.

Last month, BTDR said it was able to mine 114 Bitcoins at a hash rate of 24.2 EH/s. It also completed mass production of 3.8 EH/s for its SEALMINER A1 mining rig, launched the SEALMINER A2 Pro series Bitcoin mining rigs, and obtained regulatory approval for Phases 1 and 2 of its Tydal, Norway site.

“We expect to energize more than 600 MW of power capacity over the next few months, including our Bhutan site,” the company said.