Core Insights - Bitdeer Technologies Group reported a significant decline in financial performance for Q4 2024 compared to Q4 2023, with total revenue dropping to $69.0 million from $114.8 million, and a net loss increasing to $531.9 million from $5.0 million [5][18][30]. Financial Highlights - Total revenue for Q4 2024 was $69.0 million, a decrease of 39.9% year-over-year [5][9]. - Cost of revenue decreased to $63.9 million from $87.8 million, primarily due to lower depreciation expenses and reduced power usage [5][13]. - Gross profit fell to $5.1 million, resulting in a gross margin of 7.4%, down from 23.5% [5][16]. - Adjusted EBITDA was negative $3.8 million compared to positive $33.3 million in the previous year [5][20]. - Cash and cash equivalents increased to $476.3 million as of December 31, 2024, up from $144.7 million [5][28]. Operational Summary - Total hash rate under management increased to 21.6 EH/s from 21.0 EH/s, with self-mining hash rate rising to 8.5 EH/s from 6.7 EH/s [4][6]. - The company plans to increase its self-mining capacity to approximately 40 EH/s by Q4 2025, including new SEALMINER ASICs [3][4]. - The global power capacity exceeded 2.6 GW, with over 1 GW scheduled to be energized in 2025 [3][4]. Business Strategy - The company is focusing on the development of proprietary ASIC technology, which is expected to enhance its competitive position and diversify revenue streams into the ASIC market [2][3]. - Bitdeer aims to establish long-term partnerships with datacenter developers to address the demand for reliable power in AI datacenters [3][4]. Revenue Breakdown - Self-mining revenue was $41.5 million, down from $46.9 million, influenced by the April 2024 halving and increased global network hashrate [15]. - Cloud Hash Rate revenue dropped to $2.3 million from $16.2 million due to the expiration of long-term contracts [15]. - General Hosting and Membership Hosting revenues also saw declines, attributed to customers scaling down operations post-halving [15]. Balance Sheet Overview - Total assets increased to $1.56 billion from $639.4 million, driven by higher cash reserves and inventories [28]. - Total liabilities rose to $1.28 billion, primarily due to derivative liabilities related to convertible notes and warrants [29].

Core Insights - Bitdeer Technologies Group reported a decrease in self-mined Bitcoin to 126 Bitcoins in January 2025, down from 145 in December 2024, attributed to temporary curtailments at the Bhutan site due to higher seasonal electricity prices [2][7] - The company is advancing its mining rig production, with SEALMINER A1 mass production on track and SEALMINER A2 production delayed by one month due to a recent earthquake in Taiwan [6][7] - Bitdeer has successfully acquired a 101 MW site and gas-fired power plant project in Alberta, aiming to establish a fully vertically-integrated Bitcoin mining operation [5][7] Operational Update - Self-mined Bitcoin decreased to 126 in January 2025 from 145 in December 2024 [2] - Total hash rate under management increased to 22.4 EH/s in January 2025 from 21.6 EH/s in December 2024 [7] - The number of mining machines under management rose to 179,000 in January 2025, up from 175,000 in December 2024 [7] Mining Rig Manufacturing and R&D - SEALMINER A1 production is on schedule with 3.7 EH/s planned, while SEALMINER A2 production is expected to reach 35 EH/s by October 2025, delayed by one month [6][7] - Initial tape-out sample wafers for SEAL03 are expected in Q1 2025, with SEAL04 R&D on track for Q3 2025 [6][7] Infrastructure Development - Rockdale, Texas, is undergoing a 100 MW hydro-cooling conversion, expected to be completed in phases during Q1 2025 [11] - The 500 MW construction in Jigmeling, Bhutan, is on track, with the primary substation expected to be completed by Q1 2025 [11] - The Alberta site, with a 101 MW gas-fired power plant, is planned for energization in Q4 2026 [11][14] Financial Update - The company executed a $17 million supply chain financing facility with a 10.2% interest rate, completed in January 2025 [11] - Bitcoin held by the company increased to 724 in January 2025 from 594 in December 2024 [7]

Core Viewpoint - Bitdeer Technologies Group is set to announce its fourth quarter and full year 2024 earnings on February 25, 2025, at 8:00 AM EST, discussing preliminary and unaudited financial results [1][2]. Group 1: Earnings Call Details - The earnings release will be available before the call at approximately 7:00 AM EST on February 25, 2025 [2]. - Participants can join the conference call by registering through a provided link, receiving necessary access details via email [3]. - A live and archived webcast of the conference call will be accessible on Bitdeer's Investor Relations website [4]. Group 2: Company Overview - Bitdeer is a leading technology company specializing in blockchain and high-performance computing, providing comprehensive computing solutions [5]. - The company manages complex computing processes, including equipment procurement, logistics, datacenter design, and operations, and offers advanced cloud capabilities for AI demands [5]. - Bitdeer is headquartered in Singapore and has deployed datacenters in the United States, Norway, and Bhutan [5].

Core Viewpoint - Bitdeer Technologies Group has successfully acquired a 101 MW gas-fired power project in Alberta for $21.7 million, aiming to become the world's first fully-vertically integrated Bitcoin miner at scale [1][3][5] Acquisition Details - The acquisition includes all necessary permits and licenses for the power plant and a 99 MW grid interconnection with Alberta Electric System Operator [2] - The site has the potential to scale to 1 GW of power, leveraging Alberta's energy resources and regulatory support [1][2] Strategic Benefits - The project allows Bitdeer to control costs, energy efficiency, and scalability, setting a new benchmark for industry unit economics [5] - The partnership with a leading Engineering, Procurement and Construction company will facilitate the development of the power plant, expected to be energized by Q4 2026 [2][6] Financial Overview - The total cash cost for the acquisition is $21.7 million, with additional estimated costs of approximately $90 million for the gas-fired power plant and around $30 million for electrical and datacenter infrastructure [7][8] - Projected energy production costs are estimated to be between $20 to $25 per MWh based on current gas prices [8] Sustainability and Innovation - The project will implement a carbon utilization system to capture CO2, aiming for net-zero carbon production and potential revenue from carbon credits [8] - Bitdeer plans to curtail and sell power back to the Alberta grid, optimizing costs during high demand periods [8] Future Plans - Site preparation and initial infrastructure development are set to begin in Q2 2025, with energization planned for Q4 2026 [6]

SINGAPORE, Feb. 04, 2025 (GLOBE NEWSWIRE) -- Bitdeer Technologies Group (NASDAQ: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for blockchain and high-performance computing, today announced the successful close of the acquisition of a fully licensed and permitted 101 MW site and gas-fired power project situated on 19 acres of land near Fox Creek, Alberta in an all-cash transaction for $21.7 million. The site has potential to scale to 1 GW of power, reflecting Alberta’s abundant ener ...

New York, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Bitdeer launches its new feature, "ReMine," which offers a transparent transfer market for Bitdeer mining machine buyers and sellers. "ReMine" uses a peer-to-peer model crafted to meet users' needs for purchasing and transferring mining machines and related rights and benefits provided by Bitdeer. It enables flexible transfer of SEALMINER orders, SEALMINER priority purchase rights, and relevant rights and benefits. ReMine aims to provide users with a quick and has ...

- Production of approximately 35 EH/s of SEALMINER A2s through Q3 2025 remains on track.- ~7 EH/s of SEALMINER A2s allocated for external sale have been ordered by customers, including the full receipt of related down payments.- SEAL03 sample wafers with an anticipated chip efficiency of 10 J/TH expected in Q1 2025.- SEAL04 R&D remains on track to achieve industry leading efficiency of 5 J/TH with anticipated initial tape-out in Q3 2025. SINGAPORE, Jan. 08, 2025 (GLOBE NEWSWIRE) -- Bitdeer Technologies Grou ...

SINGAPORE, Nov. 22, 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 the pricing of US$360.0 million principal amount of 5.25% Convertible Senior Notes due 2029 (the “notes”) in a private placement (the “offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities ...

SINGAPORE, Nov. 21, 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 that it intends to offer, subject to market conditions and other factors, US$360.0 million principal amount of Convertible Senior Notes due 2029 (the “notes”) in a private placement (the “offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under th ...

SINGAPORE, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Bitdeer AI, part of Bitdeer Technologies Group (NASDAQ: BTDR), an emerging AI cloud service provider, is proud to announce its inclusion in the Top 100 Software Companies of 2024, ranked 8 in the Cloud Management by The Software Report. The Software Report’s Top 100 Software Companies award is a prestigious recognition of excellence in the software industry, grounded in a rigorous evaluation of product functionality, customer satisfaction, corporate reputation, i ...