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Bitdeer Technologies Group (NASDAQ:BTDR) shares are trading higher Friday after the company announced it has entered into a lease agreement with the Monroe County Port Authority (MCPA) to secure up to 570 MW of additional power capacity.
The Details:
Bitdeer said it has leased land for 30 years at the Monroe County Port Authority-owned Hannibal Industrial Park in Clarington, Ohio, a site that benefits from existing power infrastructure, utility switchyards and transmission capable of supporting hyperscale loads.
The lease agreement increases Bitdeer’s total capacity to 2.5 GW globally and strengthens Bitdeer’s infrastructure development pipeline for Bitcoin mining and high-performance computing (HPC) and AI. Of the total 570 MW of power capacity contemplated under this agreement, the initial 266 MW is expected to be available in the third quarter of 2025, with the remaining 304 MW currently under review to be formally incorporated into the regional transmission planning process.
According to data from Benzinga Pro, Bitdeer shares have gained more than 60% over the past month and are trading well-above the stock’s 50-day moving average of $6.85.
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When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.
Shares of Bitdeer Technologies have decreased by 12.68% in the past year. An investor who bought shares of Bitdeer Technologies at the beginning of the year would make a profit of $0.9 per share if they sold it today. The stock has risen 68.04% over the past month, meaning an investor who bought shares on May 1 would see a capital gain of $4.14.
Bitdeer Technologies shares have an all-time high of $14.31, representing 46.32% upside from current levels.
Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Bitdeer Technologies stock currently has an RSI of 52.09, indicating neutral conditions.
For access to advanced charting and analysis tools and stock data, check out Benzinga PRO. Try it for free.
BTDR Price Action: According to Benzinga Pro, Bitdeer Technologies shares are up % at $ at the time of publication Friday.
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Posted In: BTDR
