Bitdeer Announces January 2025 Production and Operations Update

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]