Bitdeer Announces February 2025 Production and Operations Update

Core Insights - Bitdeer Technologies Group reported a decrease in self-mined Bitcoin to 110 in February 2025, attributed to fewer days in the month compared to January 2025 [2] - The company anticipates mass production of the SEALMINER A3 to begin in the latter half of 2025, with SEAL03 sample wafers achieving a power efficiency of 9.7 J/TH during testing [1][2] - Bitdeer is redirecting SEALMINER A2s initially allocated for external sales to self-mining due to customer requests for payment delays amid lower Bitcoin prices [2] Operational Update - Total hash rate under management decreased to 20.9 EH/s in February 2025 from 22.4 EH/s in January 2025 [4] - Self-owned mining machines increased to 88,000, while hosted machines decreased to 75,000 [4] - Bitcoin held by the company rose to 1,039 from 724 in January 2025 [4] Mining Rig Manufacturing and R&D - SEALMINER A1 mass production is nearly finalized with 3.7 EH/s expected to be operational soon [2] - SEALMINER A2 production is expected to complete approximately 35 EH/s by October 2025, with 0.6 EH/s ready for shipment [2] - SEALMINER A4 is on track for an expected chip efficiency of approximately 5 J/TH with initial tape-out anticipated in Q3 2025 [2] Infrastructure Developments - Rockdale, Texas, is set to commence phased energization of a 100 MW hydro-cooling conversion in March 2025 [2] - Tydal, Norway, is undergoing a 40 MW phase 1 expansion with fast-tracked regulatory approval [2] - Jigmeling, Bhutan, is progressing on a 500 MW construction project, expected to complete the primary substation by the end of March 2025 [2] Share Repurchase Program - The company repurchased approximately US$9 million of its Class A ordinary shares at the end of February 2025 and has approved an additional US$20 million repurchase program effective until February 28, 2026 [7]