Bitdeer Mines 115.9 BTC, Holdings Rise to 2,268.3 BTC
Crypto mining firm Bitdeer reported a weekly Bitcoin mining output of 121 BTC for the period to October 31, bringing total holdings (excluding client deposits) to 2,233.2 BTC. The company sold 68.1 BTC, resulting in a net accumulation of 52.9 BTC. In the following week ending November 7, Bitdeer’s Bitcoin mining output reached 115.9 BTC and sales totaled 80.8 BTC, lifting holdings to 2,268.3 BTC with a net gain of 35.1 BTC. This steady build-up of BTC reserves underscores Bitdeer’s long-term asset accumulation strategy and may tighten market supply. Traders should monitor mining output versus sales to assess potential shifts in institutional selling pressure and market liquidity.
Bullish
Bitdeer’s ongoing net accumulation of BTC reduces potential miner-driven selling pressure and tightens supply, which can support Bitcoin’s price in both the short and long term. In the short term, rising miner reserves may signal diminished immediate sell-offs, bolstering bullish trader sentiment. Over the longer term, continued asset accumulation by a major miner like Bitdeer could limit available market supply, further underpinning price stability or upward momentum, assuming steady or rising demand.