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Crypto miner Bitdeer looks to private credit for $100m

Crypto miner Bitdeer Technologies Group is in discussions with private credit firms as it looks arrange a $100m financing package to ramp up its bitcoin mining capabilities, according to a report by Bloomberg.

The report cites unnamed sources with knowledge of the matter as confirming that Bitdeer is working with a financial adviser on raising the capital, although discussions are ongoing and details of the final financing package may change.

Bitdeer, which is one of the largest public crypto miners in the US and is owned by Chinese billionaire Jihan Wu, joins a growing number of listed firms who have recently turned to direct lenders to raise cash including cannabis producer Ascend Wellness Holdings Inc, and wheel supplier Superior Industries International Inc.

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