Key points
- Bitdeer (BTDR) chief strategy officer Basit Fozan bought 25,000 Class A ordinary shares at $8.84 on August 14, 2026, a purchase of $221,000, reported on a Form 4 filed today, August 17.
- He already held 10,000 shares and more than tripled that stake to 35,000. It is the first open-market purchase on his short Bitdeer record.
- Fozan and finance chief Michael Potter received the same option grant on July 1, struck at $15.44. Both then bought stock in cash in August at about $9, more than 40 percent below that strike.
- That makes two Bitdeer executives buying within a week, both stepping in near the low that followed the company's August 10 earnings, when the stock fell to about $8.70.
Bitdeer Technologies Group (BTDR) now has a second executive buying its stock in the open market.
Last week it was the chief financial officer. This week the company's chief strategy officer did close to the same thing, and his filing reached the SEC this morning.
Basit Fozan bought 25,000 Class A ordinary shares at $8.84 each on August 14, a purchase of $221,000. The Form 4 landed today, August 17, which is where our insider buying tracker picked it up. He already owned 10,000 shares, so the buy more than tripled his direct stake to 35,000.
What makes it worth a second look is the echo. Days earlier, finance chief Michael Potter bought 25,000 shares at $9.04, his own first open-market purchase, which I wrote about here. Same size, same week, same backdrop.
Both bought well under their own strike
The two are aligned in a very literal way. On July 1 the company granted each of them stock options struck at $15.44, Potter over 48,900 shares and Fozan over 24,000. A strike is the price an option lets you pay for a share later.
About six weeks after taking that grant, both went into the open market and bought stock with cash at about $9. That's more than 40 percent below the strike on their options. They chose to own shares outright at a price well below what their own grants assume the stock is worth.
That's the part I'd weigh, because an option and a cash purchase carry very different risk. An option is free to receive, and it rewards the executive only once the stock climbs past the strike. Buying shares with cash puts real money on the line today. When two officers do it in the same week, near the same price, it reads as a shared view across the team.
They bought into the post-earnings low
The timing stands out. Bitdeer reported second-quarter results on August 10. Revenue rose to $228.8 million from $155.6 million a year earlier, but the net loss widened to $92.3 million, and the stock fell hard, from about $11 to $8.70 in a single session. Potter bought two days later, Fozan two days after that. Both Potter and Fozan stepped in while the shares sat near that low.
Bitdeer is a Nasdaq-listed bitcoin miner based in Singapore, founded by Jihan Wu. Lately it's been spending to aim its power and data-center capacity at AI computing as much as at mining. The stock traded as high as $27.80 last October, so Fozan's $8.84 sits about 68 percent below that peak. It closed at $9.13 on Friday and traded around $9.30 midday Monday, which puts both executives modestly ahead so far.
What it says, and what it does not
It helps to put the size in context, since together the two buys come to $447,000. That's real money from the two officers, and it's small against Bitdeer, which just filed to sell up to $1 billion of its own stock through an at-the-market program on August 10. My colleague Dennis Singleton covered that filing here. The company's still losing money, and a bitcoin miner pivoting toward AI carries plenty of ways for the story to change.
What insider buying shows you is direction. It leaves the timing and the outcome open. Here, two officers leaned the same way. They both used their own cash, and both paid below their strike, days after the market marked the stock down. That's a clearer read than most single filings, though it's still one input. For the bigger question of whether following insider purchases actually works, we walked through that here, and Bitdeer's filings as they land are on its BTDR filings page.
Sources
- Basit Fozan Form 4, filed August 17, 2026, accession 0001213900-26-090516: 25,000 shares at $8.84, purchased August 14
- Basit Fozan Form 4 (option grant), filed July 6, 2026: 24,000 options struck at $15.44
- Our earlier coverage: Bitdeer (BTDR) CFO buys $226,000 of stock, well below his option strike
- Bitdeer second-quarter 2026 results, reported August 10, 2026, via company press release
- 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 midday on August 17, 2026, and will move. Always do your own research and consider speaking with a licensed financial professional before making any investment decision.
