PANews reported on April 17 that Bitdeer (BTDR) Chairman and CEO Wu Jihan issued a statement on X in response to the BTDR short-selling report. He said that the report was based on a preset position, piecing together complex but irrelevant facts, and using absurd and misleading logic to construct a narrative, with the purpose of manipulating market sentiment for the short sellers to seek personal gain. He emphasized that the company will continue to focus on actual business fundamentals and long-term value creation, while reserving the right to take legal action to protect the company's reputation and shareholder interests.
On April 16, an organization called Callisto Research released a short report on BTDR and stated, "We shorted BTDR, a Bitcoin mining company listed on Nasdaq. We found red flags in BTDR's disclosure, governance, and related-party transactions. We believe that without a thorough transparency reform, BTDR is not worth investing in."
