Bitdeer Technologies Group announced that its Board of Directors has authorized a new share repurchase program for up to US$40 million worth of its Class A ordinary shares. This program is effective from May 30, 2025, through May 29, 2026.
This new authorization follows the completion of a previous US$20 million share repurchase program, under which the company repurchased 1,830,318 shares. The continued commitment to share repurchases signals management's confidence in the company's intrinsic value.
The company plans to fund these repurchases from its existing cash balance. The timing and actual number of shares repurchased will depend on various factors, including market conditions, trading volume, and the company's working capital requirements, aiming to generate greater long-term returns for shareholders.
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