Bitdeer Technologies Group, a leader in blockchain and high-performance computing, announced a significant purchase of Bitcoin amidst a market downturn. On February 28, the NASDAQ-listed company acquired 50 BTC at an average price of $81,475 per coin. This recent investment adds to their growing portfolio now totaling over 640 BTC.

The acquisition reflects a strategic move by Bitdeer as Bitcoin continues to trade below its all-time high reached in late January. Despite the recent 6.5% drop in Bitcoin’s value, Bitdeer’s decision to expand its holdings underscores its commitment to the cryptocurrency sector. The company now controls approximately 0.003% of the total Bitcoin supply according to BiTBO data.

With a total expenditure of approximately $4.1 million for this transaction, Bitdeer’s total Bitcoin holdings are valued significantly given the current market conditions. This investment aligns with their long-term strategy in the blockchain space and positions the company to potentially benefit from future market recoveries.