Bitdeer Technologies Group (NASDAQ:BTDR) shares are moving lower on Monday after the company completed testing of its Bitcoin (CRYPTO: BTC) mining chip, SEAL03.

What To Know: The mining chip achieved its performance goal with a power efficiency ratio of 9.7J/TH while running at low voltage in ultra power-saving mode as outlined in the SEALMINER technology roadmap.

Bitdeer shares may be trading lower despite the positive news, possibly due to a broader pullback in Bitcoin, which impacts demand for cryptocurrency mining services.

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BTDR Price Action: At the time of writing, Bitdeer stock is trading 10.6% lower at $9.84, according to data from Benzinga Pro.

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