Update - Bitdeer - Who says making money is easy ?

Since the last update, Bitdeer has dropped to around $9.

Looking at the semi stocks, the AI trade has run out of puff as well.

MV is now $2.2bn.

I would still hold the position.

1. The reason why the stock is down much worse than others is because it still has not closed the Tydal lease after a month. I guess my take is it will close eventually.. if not someone else will take over from the original leasee. Think about the Tydal impact... Assume 2M per W @ 180MW, we are looking at over $300M in rental income p.a. from Tydal alone.... The stock can get down to a low PE on Tydal alone.

2. Then we have the traditional bitcoin operation....It is not well advertised.. I suspect Bitdeer has now secured its top position as a crypto miner... Its mining capacity is now over 90EH. In June, it mined 990 BTC... To make the calculation straight forward, it can mine 12000 BTC a year. Each BTC cost $45000 in power cost... At current BTC price, not much to write home about. BTC next halving is expected to be in April 28.... BTC can run as we get closer to halving... Say if BTC recovers to $100000, we are looking at gross profit of $750M (ignore depreciation for now).... We can see the leverage in the business.

3. And then if we look at https://bitdeer.breezy.hr/ , Bitdeer is hiring 2 construction managers in Ohio... Wonder if it will choose to settle the case (or blackmail) with AHP.

4. Plus also from its staffing needs, it is building up its cloud business and hiring lots of new staff/experts..... By Q2 27, it will add over 100MW in cloud capacity.....

5. Also wonder if rumor about AI fund - Situational Aware being in trouble = thus forced liquidation of its position in BTDR = which led to the stock being dumped.

In summary, it has been a Bitdog....... But plenty of potential opportunities ahead... And stock is cheap if its various initiatives come through.

Note: Do your own research. Not financial advice.