Bitdeer Technologies Group (“Bitdeer” or the “Company”) (NASDAQ:BTDR), a world-leading technology company for the cryptocurrency mining community, today announced that its board of directors has approved a new share repurchase program under which the Company may repurchase up to US$2,000,000 worth of its Class A ordinary shares (the “Shares”), effective through April 17, 2024.
Under the share repurchase program, Bitdeer may purchase its Shares through various means, including open market transactions, privately negotiated transactions, any combination thereof or other legally permissible means. The Company may effect repurchase transactions in compliance with Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The number of Shares repurchased and the timing of repurchases will depend on a number of factors, including, but not limited to, price, trading volume, and general market conditions, along with Bitdeer’s working capital requirements, general business conditions and other factors. Bitdeer’s board of directors will review the share repurchase program periodically, and may modify, suspend or terminate the share repurchase program at any time. The Company plans to fund repurchases from its existing cash balance. By gradually executing the share repurchase program, Bitdeer seeks to minimize the impact on its share price and generate greater long-term returns for its shareholders.
