Bitdeer Announces Mining Expansion with SEALMINER Mining Machines
Bitdeer Technologies Group (BTDR)
Company Research
Source: GlobeNewswire
SINGAPORE, March 26, 2024 (GLOBE NEWSWIRE) -- Bitdeer Technologies Group (NASDAQ: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for blockchain and high-performance computing, today announced a hash rate expansion plan of approximately 3.4 EH/s as a first step in a plan to expand its self-mining. The Company intends to install its own recently announced SEALMINER A1 miners at its mining datacenters in Rockdale, Texas in the United States; and, Norway in Q3 and Q4 2024 to accomplish this initial 3.4 EH/s expansion. Bitdeer will add approximately 4.8 EH/s of hash rate and retire 1.4 EH/s of older mining rigs. This expansion is expected to grow the total proprietary hash rate from 8.4 EH/s to approximately 11.8 EH/s. Several similar expansions for its mining hash rate are expected to follow in subsequent quarters until the end of 2025. The Company estimates that it will feasibly add 30 – 40 EH/s in its mining datacenters to be operational in 2025 and replace a
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