Bitdeer’s 8.3% drop on May 30 followed a broader crypto market selloff triggered by macro uncertainties, erasing part of its 132% April-May rally. Mining stocks often amplify Bitcoin’s volatility due to fixed operational costs and leverage to BTC prices. Investors likely took profits amid fears that tariff tensions would suppress risk assets.
The stock’s earlier surge reflected optimism about Bitcoin’s halving-driven supply dynamics and the company’s expansion into high-efficiency mining rigs. However, its underperformance relative to Bitcoin during the downturn suggests concerns about profitability if BTC prices stagnate or energy costs rise.
This divergence underscores the sector’s sensitivity to both crypto-specific factors and traditional equity market sentiment. Future performance may hinge on Bitdeer’s ability to maintain low production costs and navigate regulatory hurdles in key mining regions.
