NEW YORK CITY & NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC ("KSF†) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors with substantial losses that they have until February 2, 2026 to file lead plaintiff applications in a securities class action lawsuit against Bitdeer Technologies Group ("Bitdeer†or the "Company") (NasdaqCM: BTDR), if they purchased or otherwise acquired the Company's securities between June 6, 2024 and November 10, 2025. ...

Core Viewpoint - A class action has been filed against Bitdeer Technologies Group, alleging that the company misled investors regarding its business prospects and the development of its SEALMINER A4 machine [1][2]. Allegations - The complaint claims that Bitdeer created a false impression of having reliable information about the SEAL04 ASIC chip technology, which was expected to enhance revenue through self-mining and external sales in fiscal year 2025 [2]. - It is alleged that the company misrepresented the progress of the SEAL04 chip design, which ultimately led to delays in production and a dual-track approach to ensure mass production [2]. Financial Results - On November 10, 2025, Bitdeer announced a net loss of $266.7 million, or $1.28 per share, primarily due to increased operating expenses related to R&D of its ASIC roadmap [3]. - Following the announcement, Bitdeer's stock price fell over 14%, from $17.65 per share to $15.02 per share [3]. Class Action Participation - Shareholders may be eligible to participate in the class action against Bitdeer, with a deadline to file as lead plaintiff by February 2, 2026 [4]. - Shareholders can choose to remain absent class members without participating in the case [4]. Company Background - Robbins LLP is noted as a leader in shareholder rights litigation, focusing on helping shareholders recover losses and improve corporate governance since 2002 [5].

Core Viewpoint - The complaint against Bitdeer alleges violations of federal securities laws due to misleading statements regarding the SEALMINER A4 project and delays in the development of the SEAL04 chip [2]. Financial Performance - On November 10, 2025, Bitdeer reported unaudited Q3 2025 results with an earnings per share of -$1.28, missing the consensus estimate of -$0.22 [3]. - Following the earnings report, Bitdeer's stock price dropped by $2.63, or 14.9%, closing at $15.02 on November 11, 2025 [3]. Incident Reporting - On November 12, 2025, Bitdeer reported a fire incident at its construction facility in Massillon, Ohio, which occurred on November 11, damaging 2 out of 26 buildings [4]. - The stock price fell further by $2.83, or 20.3%, closing at $11.11 on November 13, 2025, following the fire incident announcement [4]. Legal Proceedings - The lead plaintiff in the class action lawsuit is the investor with the largest financial interest, who will oversee the litigation on behalf of the class [5]. - Any member of the class can apply to serve as lead plaintiff or remain an absent class member without affecting their ability to share in any recovery [5]. Whistleblower Information - The law firm Faruqi & Faruqi encourages individuals with information regarding Bitdeer's conduct, including whistleblowers and former employees, to come forward [6].

Core Insights - Multiple Bitcoin mining stocks are experiencing gains as network difficulty decreases and Bitcoin prices improve, leading to better mining revenues [1] - Year-to-date performance shows significant gains for several companies, with IREN leading at 357% [3] Company Performance - MARA gained 11.97% this week, followed by CleanSpark at 11.75%, Core Scientific at 5.56%, and Hut 8 at 1.04% [2] - American Bitcoin saw a significant drop of 42.38% due to an investor unlock, while IREN fell by 4.13% after a convertible note announcement [2] - Year-to-date, IREN has a 357% gain, Terawulf at 154%, and Hut 8 at 104%, while MARA is down 28% for the year [3] Mining Economics - Hashprice has dropped below $40 per petahash per day, indicating that operator revenues are at a new low despite the decrease in mining difficulty [3] - The average machine operates at 32 joules per terahash, with a break-even hashcost of approximately $38.40 per petahash per day at a power cost of $0.05 per kilowatt-hour [4] - Many miners are close to or below profitability, potentially needing to rely on cash reserves or reduce operations to manage costs [4] Monthly Mining Reports - Riot and CleanSpark reported 428 and 587 Bitcoin mined in November, respectively, while Cango mined 546 Bitcoin, slightly lower than the previous month [5] - Bitdeer, a Bitcoin miner and ASIC manufacturer, is facing a lawsuit regarding alleged miscommunications about its new unit's performance and production timelines [5]

Core Points - A shareholder class action lawsuit has been filed against Bitdeer Technologies Group alleging that the company made materially false and misleading statements regarding the SEAL04 chip's energy efficiency and its readiness for mass production in A4 rigs [1] - The lawsuit claims that Bitdeer failed to disclose critical information about the SEAL04 chip, which was projected to have an energy efficiency of 5 J/TH and was expected to begin mass production in the second quarter of 2025 [1] Legal Information - Shareholders who purchased Bitdeer shares between June 6, 2024, and November 10, 2025, and suffered significant losses are encouraged to contact legal representatives for assistance [2] - The deadline for shareholders to request to be appointed as lead plaintiff in the case is February 2, 2026 [3]

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Bitdeer Technologies Group due to alleged violations of federal securities laws, particularly concerning misleading statements about the company's SEALMINER A4 project and its delayed product development [4][6]. Group 1: Legal Investigation and Class Action - Faruqi & Faruqi is encouraging investors who suffered losses in Bitdeer to contact them for discussing legal options, particularly for those who purchased securities between June 6, 2024, and November 10, 2025 [1][4]. - A federal securities class action has been filed against Bitdeer, with a deadline of February 2, 2026, for investors to seek the role of lead plaintiff [4][9]. - The complaint alleges that Bitdeer and its executives made false statements regarding the readiness and efficiency of the SEAL04 chip, which was expected to be used in the A4 rigs [6]. Group 2: Financial Performance and Stock Impact - Bitdeer reported a third-quarter earnings per share of -$1.28, significantly missing the consensus estimate of -$0.22, which led to a stock price drop of $2.63 per share, or 14.9%, closing at $15.02 on November 11, 2025 [7]. - Following a fire incident at its under-construction facility in Ohio, Bitdeer's stock fell another $2.83 per share, or 20.3%, closing at $11.11 on November 13, 2025 [8]. Group 3: Company Background - Faruqi & Faruqi, LLP is a national securities law firm with a history of recovering hundreds of millions of dollars for investors since its founding in 1995 [5].

Core Viewpoint - A class action lawsuit has been initiated against Bitdeer Technologies Group, alleging that the company made misleading statements regarding its SEALMINER A4 project, which may have contributed to significant financial losses for investors [1][2]. Financial Performance - Bitdeer reported a net loss of $266.7 million, or $1.28 per share, for the third quarter of 2025, primarily due to increased operating expenses related to research and development of its ASICs roadmap [3]. - Following the announcement of these financial results, Bitdeer's stock price fell from $17.65 to $15.02, representing a decline of over 14% in a single day [3]. Legal Proceedings - The class action lawsuit, Ismail N. Sakar v. Bitdeer Technologies Group, has been filed in the United States District Court for the Southern District of New York, with a deadline of February 2, 2026, for investors to request lead plaintiff status [1][4]. - The law firm Levi & Korsinsky is representing the aggrieved shareholders and has a history of securing substantial recoveries for investors in similar cases [4][5].

Core Viewpoint - A class action lawsuit has been filed against Bitdeer Technologies Group, alleging that the company misled investors regarding the development and timeline of its SEAL04 Bitcoin mining ASIC chip, which is crucial for its SEALMINER A4 mining computer [1][2]. Group 1: Allegations and Lawsuit Details - The lawsuit, filed in the Southern District of New York, claims that Bitdeer executives made false statements about the chip's energy efficiency and production schedule, leading to a significant drop in stock price following the announcement of production delays [2][4]. - The lawsuit seeks damages for investors who purchased Bitdeer securities between June 6, 2024, and November 10, 2025, during which time the stock price fell by 41% [5]. - The corrective disclosure occurred on November 10, 2025, when Bitdeer reported a net loss of $266.7 million and acknowledged significant delays in the SEAL04 chip's production [6]. Group 2: Product Development Timeline - Bitdeer initially announced the SEAL04 ASIC chip in June 2024, promoting an energy efficiency of "as low as" 5 J/TH, with expectations for availability in Q2 2025 [3]. - Despite claims of being on track for mass production, the lawsuit argues that design issues led to delays, forcing the company to adopt a dual-track approach with two independent designs for the SEAL04 chip [4][7]. - Management later revised the timeline, targeting Q3 2025 for the first tape out of the SEAL04, which was subsequently pushed to Q4 2025, with mass production now expected in Q1 2026 [8].

Market Overview - U.S. stock futures are lower, with Dow futures down approximately 200 points on Monday [1] - CleanSpark Inc (NASDAQ: CLSK) shares fell sharply in pre-market trading, dropping 7.7% to $13.93 [1] Crypto-Linked Stocks - Shares of crypto-linked stocks declined following Bitcoin's drop below $86,000 [1][3] - Notable declines include: - Bitfarms Ltd (NASDAQ: BITF) down 8.9% to $3.17 [3] - Cipher Mining Inc (NASDAQ: CIFR) down 7.7% to $18.79 [3] - Bitdeer Technologies Group (NASDAQ: BTDR) down 7.3% to $12.40 [3] Other Notable Stock Movements - Columbus Circle Capital I Corp (NASDAQ: BRR) decreased 19.2% to $8.20 [3] - Vaxcyte Inc (NASDAQ: PCVX) fell 11.6% to $43.87 [3] - Jiayin Group Inc – ADR (NASDAQ: JFIN) dropped 10.8% to $6.36 [3] - CEA Industries Inc (NASDAQ: BNC) declined 9.2% to $6.54 after a previous gain of over 20% [3] - TryHard Holdings Ltd (NASDAQ: THH) fell 9.1% to $12.53 after a 10% gain on Friday [3] - Coupang Inc (NYSE: CPNG) shares decreased 8.7% to $25.71 [3] - Pegasystems Inc (NASDAQ: PEGA) declined 8.1% to $50.36 [3]

Core Insights - Tether has acquired an additional 1.89 million shares in Bitdeer through open-market purchases between November 17 and November 21 [1] - Bitdeer's stock has significantly declined following its Q3 earnings call, which revealed a net loss of $266.7 million and a fire at its Ohio facility [2] - The company announced indefinite delays in the production schedule of its SEAL04 miner due to technical complexities and design changes [3] - Tether previously reduced its Bitdeer stake by approximately 7.7 million shares for $166 million since its peak holding in April [4] - The broader bitcoin mining market has lost $32 billion in market capitalization since October, with bitcoin's hashprice dropping to an all-time low below $35 per petahash per second [5] Company Developments - Tether's recent acquisition of shares indicates continued investment interest despite Bitdeer's challenges [1] - Bitdeer's operational setbacks, including a significant quarterly loss and production delays, raise concerns about its future performance [2][3] - The company is currently reviewing the SEAL miner timeline, with engineering teams addressing necessary design adjustments before mass production [4] - The overall decline in the bitcoin mining sector reflects broader economic pressures affecting profitability and operational viability [5] Market Context - The bitcoin mining public market has experienced a substantial decrease in market capitalization, highlighting the industry's struggles [5] - The decline in bitcoin's hashprice is attributed to lower bitcoin prices and high network difficulty, impacting mining economics [5]