Bitdeer Technologies Group: April 2025 Operational Update
On May 9, 2025, Bitdeer Technologies Group, a prominent player in Bitcoin mining technology, reported its latest operational results for April 2025. The firm, listed on NASDAQ under the ticker BTDR, highlighted significant advancements in self-mining capabilities and various developments across its global operations.
Operational Highlights
Self-Mining Performance
Bitdeer achieved a remarkable increase in self-mined Bitcoin, recording 166 Bitcoins in April, a significant bounce of 45.6% from March 2025. This growth is attributed to a higher average self-mining hashrate fueled by the energization of their SEALMINER rigs.
Mining Rig Manufacturing and R&D
The company is making strides in its mining rig production:
- SEALMINER A1: With a hashrate of 3.7 EH/s, operations are currently underway with an additional 0.1 EH/s expected to be energized by Q2 2025.
- SEALMINER A2: The company has manufactured a total of 3.3 EH/s, with 1.2 EH/s in assembly by the end of April. Of the units produced, 1.3 EH/s have been shipped to external customers, with a portion already deployed in Texas and Norway.
- SEALMINER A3: Testing has yielded impressive energy efficiency results of 9.7 J/TH. The next phase of machine-level testing is set to conclude by late Q2 2025.
- SEALMINER A4: Research and development for SEALMER A4 is on track, targeting a chip efficiency of about 5 J/TH with initial tape-out anticipated in Q4 2025.
High-Performance Computing (HPC) and AI Initiatives
Bitdeer is actively exploring partnerships for large-scale HPC and AI projects in the U.S., underscoring the company’s commitment to diversifying its operations beyond traditional Bitcoin mining.
Hosting Services Growth
The company saw an increase of 3,000 client-hosted mining rigs, accounting for an additional 0.6 EH/s of mining capacity, showcasing robust demand from existing customers.
Infrastructure Developments
Bitdeer has made considerable progress in energizing its infrastructural projects:
- Tydal, Norway: Energization of 70 MW was completed in April, with expectations to finalize the remaining 105 MW by the end of Q2 2025.
- Jigmeling, Bhutan: In April, 132 MW was energized, contributing to the target of 500 MW across the site, with further capacity being phased in.
- Clarington, Ohio: Construction has been paused at the 570 MW site due to strategic discussions surrounding HPC and AI initiatives.
Financial Updates
In terms of financial maneuvers, Bitdeer entered a loan agreement with Matrixport Group for a facility of up to $200 million. This facility carries a variable interest rate and has been secured by a pledge of the SEALMINER units.
Insights from Management
Matt Kong, Chief Business Officer at Bitdeer, remarked on the strategic importance of their global expansion. The company expects to increase its available power capacity to 1.6 GW by June 2025, with over half established outside the U.S. This diversification allows for greater operational flexibility amidst changing global trade dynamics.
Summary of Metrics
According to the report, several key metrics remain indicative of Bitdeer’s growth:
- Total Hash Rate Under Management: Increased to 25.1 EH/s.
- Self-Owned Mining Machines: 98,000 machines are actively used for self-mining.
- Bitcoins Held: The company holds 1,246 Bitcoins, not including customer deposits.
Infrastructure Construction Update
The company detailed progress at various sites, with noteworthy updates:
- Rockdale, Texas: Hydro-cooling energization is underway, having deployed 1.4 EH/s of SEALMINER A1 hydro rigs.
- Tydal, Norway: A targeted 175 MW site expansion is projected to be fully energized by Q2.
- Jigmeling, Bhutan: The company anticipates energization of an additional 368 MW by the end of Q2 2025.
- Fox Creek, Alberta, and Oromia Region, Ethiopia: New sites are in planning stages, set for energization by late 2025.
Upcoming Conferences and Events
Bitdeer is poised to participate in several high-profile events in May and June, including:
- Macquarie Asia Conference 2025 (May 14-15, Hong Kong)
- Barclay 15th Annual Emerging Payments and Fintech Forum (May 19-20, New York City)
- 25th Annual Investor Conference by B. Riley (May 21-22, Marina Del Rey)
About Bitdeer Technologies Group
Bitdeer specializes in offering comprehensive Bitcoin mining solutions, covering everything from equipment procurement to daily operational management. As a significant player in the market, the company is dedicated to harnessing the potential of cryptocurrency while expanding its international footprint, with a presence in the U.S., Norway, and Bhutan.
Investors and interested parties are encouraged to follow Bitdeer on social media platforms for the latest updates and announcements, emphasizing the company’s forward-thinking approach in the rapidly evolving landscape of cryptocurrency and blockchain technologies.