Key points
- Bitdeer (BTDR) chief financial officer Michael Potter bought 25,000 Class A ordinary shares at $9.04 on August 12, 2026, a purchase of $226,000, reported on a Form 4 filed August 13.
- It is his first open-market purchase of Bitdeer stock and the first Bitdeer shares he owns outright. His direct holding went from zero to 25,000.
- Potter only became a Bitdeer insider in late May 2026 and filed his first insider form, a Form 3, on June 5.
- On July 1 the company granted him options over 48,900 shares with a strike of $15.44. He bought the stock in August for about 41 percent less than that strike.
- BTDR closed at $9.02 the day he bought, down about 68 percent from its October 2025 high of $27.80.
A chief financial officer who holds options struck at $15.44 just paid $9.04 for the same company's shares in cash on the open market. That gap is the part that made me open the filing.
Michael Potter is the chief financial officer of Bitdeer Technologies Group (BTDR). On August 12 he bought 25,000 Class A ordinary shares at $9.04 each, and the Form 4 reached the SEC the next morning, which is where our insider buying tracker picked it up. The purchase came to $226,000. It is the first Bitdeer stock he has owned outright.
He only became an insider in late May
Potter's name enters Bitdeer's SEC record this spring. He filed his first insider form, a Form 3, on June 5, reporting that he took the role on May 26. A Form 3 is the one-time filing an insider makes on becoming subject to the disclosure rules. So the public record on his Bitdeer trading runs about three months, and this purchase is the first thing in it that involved his own money. Before it, he'd owned no Bitdeer shares at all, only the options.
Those came a month later. On July 1 the company granted him options over 48,900 shares. A strike is the price an option lets you pay for a share later, and his is set at $15.44, with the options running for ten years. That number is worth holding onto, because BTDR closed at $9.02 on the day he bought. The shares he was granted the right to buy at $15.44 are worth less than that on the open market right now. Rather than lean on those, he went and bought 25,000 shares at $9.04 with cash.
| Filed | Form | What it was | Amount | Price |
|---|---|---|---|---|
| Aug 13 | 4 | Open-market purchase | 25,000 shares | $9.04 |
| Jul 6 | 4 | Option grant | 48,900 options | $15.44 strike |
| Jun 5 | 3 | Became a reporting insider | CFO | - |
The stock he bought into
Bitdeer is a bitcoin miner based in Singapore, founded by Jihan Wu, and lately it's been spending to point its power and data-center capacity at AI computing as much as at mining. The stock has had a rough stretch. BTDR traded as high as $27.80 last October and as low as $6.92 in March. Potter's $9.04 sits near the lower end of that range.
His buy also lands in a busy few weeks for the company. Bitdeer filed to sell up to $1 billion of stock through an at-the-market program on August 10, and in early August it reported a data-center compute deal tied to its operations in Norway. My colleague Dennis Singleton covered both, the $1 billion share program and the Norway compute deal.
What the filing settles, and what it leaves open
The purchase settles a few small, specific things. Potter used his own cash. He paid $9.04, well under the $15.44 written into his options. And he bought in the open market rather than waiting on another grant.
What it doesn't tell you is why, or what he thinks the stock does next. Size deserves the same plain treatment: $226,000 is a real purchase from a chief financial officer, and it's not a large one. Set against a company that just filed to sell up to $1 billion of its own stock, one insider's six-figure buy is a data point, not a turn.
For how these forms work, we wrote a walkthrough of reading a Form 4, and on the bigger question this one raises, there's whether copying insider purchases actually works. Bitdeer's filings as they land are on its BTDR filings page.
Sources
- Michael Potter Form 4, filed August 13, 2026, accession 0001213900-26-088668
- Michael Potter Form 4 (option grant), filed July 6, 2026, accession 0001213900-26-075212
- Michael Potter Form 3, filed June 5, 2026, accession 0001213900-26-065491
- Bitdeer Technologies Group Form 4 filing history, SEC EDGAR, CIK 0001899123
- Our insider buying tracker, updated as new filings land
- Price data via Yahoo Finance market data
This reflects public regulatory disclosures and market data, not investment advice. Jennifer Song does not hold positions in the securities discussed. Prices are as of the close on August 12, 2026, and will move. Always do your own research and consider speaking with a licensed financial professional before making any investment decision.
