With the bear market taking a heavy toll on the crypto mining industry, Binance has announced a new lending project.
Wu is currently spearheading the bitcoin mining rig maker’s spin-off, Bitdeer Technologies, which will initially deploy $50 million to work. The company plans to raise the remaining $200 million from external investors.Initiated by Binance Pool, the $500 million project is designed to provide secure debt financing services to the public as well as private blue-chip BTC mining and digital asset infrastructure companies across the world.