Bitdeer Announces March 2025 Production and Operations Update

Core Insights - Bitdeer Technologies Group has completed mass production of SEALMINER A1 mining rigs, achieving 2.8 EH/s energized capacity and increasing self-mining hashrate to 11.5 EH/s by the end of March 2025 [1][8] - The company has received regulatory approval for its Tydal, Norway site, which will have a total capacity of 175 MW, with 70 MW ready for energization in early April and the remaining 105 MW expected by mid-2025 [1][7][14] - Bitdeer has engaged Northland Capital Markets as a financial advisor for its HPC/AI data center development strategy, focusing on negotiations with potential partners and capital providers [1][7] Operational Update - The company self-mined 114 Bitcoins in March 2025, with a total of 1,156 Bitcoins held [6][9] - Bitdeer has completed mass production of approximately 3.8 EH/s of mining rigs, with 0.8 EH/s shipped to customers and its own datacenters for self-mining [6][8] - The SEALMINER A2 Pro series was launched, featuring models with power efficiency ratios of 14.9 J/TH, with the SEALMINER A2 Pro Air delivering up to 270 TH/s and the Pro Hyd reaching 530 TH/s [6][8] Production and Operations Summary - Total hash rate under management increased to 24.2 EH/s in March 2025, up from 20.9 EH/s in February 2025 [9] - The number of mining rigs under management rose to 175,000, with self-owned rigs at 97,000 and hosted rigs at 78,000 [9] - The company has paused wafer capacity disclosures due to market uncertainty and a slowdown in mining rig demand [6] Infrastructure Development - The Tydal, Norway site is set for energization with 70 MW in early April and 105 MW by mid-2025, contributing to a total anticipated capacity of over 600 MW across multiple sites [7][14] - Bitdeer has signed a 50 MW mining datacenter agreement in Ethiopia for US$7.5 million, with energization expected by Q4 2025 [12][17] - Construction has begun on multiple sites, including a 221 MW site in Massillon, Ohio, and a 500 MW site in Jigmeling, Bhutan, with various phases of energization planned [15][18]