Bitdeer Technologies Group: A Leap Towards Vertically Integrated Bitcoin Mining

In a significant stride towards enhancing its presence in the cryptocurrency mining sector, Bitdeer Technologies Group recently released an operational update for January 2025, showcasing key advancements and accomplishments that underline its strategic growth.

First Trial Batch of SEALMINER A2 Rigs

One of the most notable achievements shared in the update was the successful delivery and operation of the initial trial batch of SEALMINER A2 air-cooled rigs in Bitdeer’s datacenters. The smooth operation of these rigs represents a landmark moment for Bitdeer as they expand their mining fleet and production capabilities. The A2 model is positioned to deliver improved performance and efficiency, integral components that are critical in the ever-competitive landscape of Bitcoin mining.

Vertical Integration in the Bitcoin Mining Industry

A major highlight is Bitdeer’s recent acquisition of a 101 MW site coupled with a gas-fired power plant project in Alberta, Canada. This strategic acquisition is not just about expanding capacity; it marks a pivotal shift towards becoming a fully vertically integrated player in the Bitcoin mining space.

Matt Kong, Chief Business Officer of Bitdeer, emphasized that this development combines efficient power generation with SEALMINER machines and adaptive grid participation, promising to set a new benchmark for unit economics in the industry. This maneuver positions Bitdeer to curate its energy supply and mining processes, ultimately enhancing profitability and operational efficiency.

Operational Metrics and Rig Production

In January 2025, Bitdeer self-mined 126 Bitcoins, a decrease attributed to temporary curtailments at its Bhutan site due to seasonal spikes in electricity prices. While this may seem disappointing, it’s essential to consider the broader context of operational growth and the robust production pipeline that Bitdeer boasts.

Mining Rig Production

The company is making significant strides in its mining rig production, particularly with the SEALMINER series:

• SEALMINER A1: With a planned output of approximately 3.7 EH/s, production is on track, with notable progress in both installation and transit of units.
• SEALMINER A2: Expected to achieve approximately 35 EH/s by October 2025, the production was slightly delayed due to a recent earthquake in Taiwan. Nonetheless, the first batch has already been operationally tested with positive performance results.
• SEALMINER A3 and A4: Innovations are ongoing, with expectations for advanced chip efficiencies in the forthcoming models.

The Bureau of Industry and Security (BIS) regulations have been monitored as well, and Bitdeer anticipates no disruptions in the delivery of SEAL chips due to their approval status, ensuring an uninterrupted supply chain for their operations.

Developments in HPC and AI

Bitdeer isn’t just focused on Bitcoin mining; it is also carving a niche in high-performance computing (HPC) and artificial intelligence (AI). The company has been engaged in discussions with various partners in the US for large-scale HPC/AI projects. Meanwhile, their Bitdeer AI Cloud, powered by cutting-edge NVIDIA DGX SuperPOD with H100, is shifting its focus from a generalized model to specific R&D initiatives that include optimizing platform services and deploying open-source models like DeepSeek and Llama.

Infrastructure and Hosting Enhancements

Bitdeer is actively expanding its hosting capabilities, having reported an increase of 2,000 client-hosted machines, resulting in an overall hashrate increase of 0.5 EH/s. This continuous growth demonstrates existing clients’ trust in Bitdeer’s hosting solutions and their commitment to replacing outdated mining rigs with more efficient ones.

Infrastructure projects are also progressing well:

• In Norway’s Tydal region, a 40 MW phase 1 expansion is nearing completion, rapidly advancing towards energization.
• The Rockdale facility in Texas is on track for a hydro-cooling conversion aimed at significant ramp-ups in efficiency during Q1 2025.
• Notably, the Jigmeling site in Bhutan is moving ahead with a 500 MW construction plan, due for completion by early 2025.

Financial Milestones

Finally, on the financial front, Bitdeer has showcased its financial agility by executing a $17 million supply chain financing facility with an attractive interest rate of 10.2%. This maneuver not only revitalizes capital flow but ensures the feasibility of continued investments in production and development efforts.

Upcoming Events

Bitdeer has also charted its calendar with upcoming conferences that provide the opportunity to engage with investors and industry stakeholders:

• The Cantor Global Technology Conference on March 11-12, 2025.
• The 37th Annual ROTH Growth Conference on March 16-18, 2025.

About Bitdeer Technologies Group

Founded with the vision of advancing blockchain and high-performance computing solutions, Bitdeer Technologies Group is significantly shaping the landscape of cryptocurrency mining. The company offers comprehensive solutions encompassing equipment management and operations. With datacenters deployed across the US, Norway, and Bhutan, Bitdeer continues to innovate and drive growth in the blockchain sector.

This operational update not only highlights Bitdeer’s current achievements but also sets an ambitious path for its future endeavors in cryptocurrency mining and digital infrastructure. The company remains a player to watch as it continues expanding its capabilities and enhancing its strategic position within the dynamic world of Bitcoin mining.