Crypto Tycoon Jihan Wu’s Mining Platform Bitdeer Gains 122% On Buybacks

Bitdeer Technologies Group, the Singapore-based crypto mining platform controlled by mogul Jihan Wu, saw its shares surge 122% over the past month as the company announced a share buyback amid traditional financial firms’ renewed interest in digital assets.

Bitdeer said on June 16 that it would repurchase up to $1 million worth of its Nasdaq-listed stock. The move comes as the crypto market received a boost from Wall Street heavyweights once again betting on the highly-volatile industry that is reeling from a string of company fallouts and regulatory pressure. “Even if 95% of today’s coins lose all their value and disappear, the remaining 5% will grow massively,” Wu, founder and chairman of Bitdeer, told Forbes back in 2021.