In talks to raise $100 million to increase mining capacity, Bitdeer, a bitcoin miner

As per the article, the Singaporean company intends to employ the money to increase its mining capability, particularly before the anticipated fourth halving in April that will lower mining incentives. Though conversations are ongoing and the specifics of the investment are susceptible to change, the company's post-funding round valuation is still unknown.

Bitdeer, a company founded in 2018, is listed for public trading on Nasdaq with the ticker code BTDR. The business has not yet released any information to the public about the ongoing financing talks as of this writing.

The funding discussions are taking place as the fourth halving of Bitcoin draws near, bringing the total rewards to 3.125 BTC from 6.25 BTC in mid-April. The profitability of mining operations may be impacted by the decline, particularly for smaller businesses.

Miners also confront other difficulties in addition to the halving. The introduction of spot Bitcoin ETFs, as previously reported by crypto.news, has given conventional investors a different way to enter the cryptocurrency market, removing their need to rely on crypto-friendly mining stocks as a stand-in for Bitcoin.