Bitdeer Announces April 2025 Production and Operations Update

Core Viewpoint - Bitdeer Technologies Group has made significant advancements in its Bitcoin mining operations, including the energization of new power capacities in Norway and Bhutan, and an increase in self-mined Bitcoin production, indicating a strong growth trajectory in the cryptocurrency mining sector [1][4]. Operational Update - In April 2025, Bitdeer successfully energized 70 MW in Tydal, Norway, and 132 MW in Jigmeling, Bhutan, raising its global available power capacity to nearly 1.1 GW, with expectations to reach 1.6 GW by the end of June 2025 [4]. - The company mined 166 Bitcoins in April 2025, a 45.6% increase from March 2025, attributed to higher average self-mining hashrate from the energization of SEALMINERs [4]. - Total hash rate under management increased to 25.1 EH/s in April 2025, up from 24.2 EH/s in March 2025 [5]. Mining Rig Manufacturing and R&D - As of the end of April 2025, Bitdeer manufactured a total of 3.3 EH/s of mining rigs, with 1.2 EH/s in assembly [4]. - The SEALMINER A1 has achieved an energy efficiency of 9.7 J/TH at the chip level, with further testing expected to finalize by late Q2 2025 [4]. - The SEAL04 R&D project aims for a chip efficiency of approximately 5 J/TH, with an anticipated initial tape-out in Q4 2025 [4]. Infrastructure Development - The construction of datacenter infrastructure and cooling systems in Tydal, Norway, and Jigmeling, Bhutan, is progressing, with completion expected by June 2025 [4][12]. - The Clarington, Ohio site has paused Bitcoin mining-related construction due to advancing discussions for HPC/AI projects, maintaining optionality for future Bitcoin mining [5][10]. Financing - Bitdeer entered into a loan agreement with Matrixport Group for a financing facility of up to US$200 million, with a variable interest rate of 9.0% plus a market-based reference rate [4]. Future Projects - A 50 MW Bitcoin mining project in Oromia Region, Ethiopia, has been signed for US$7.5 million, expected to be energized by Q4 2025 [14]. - The company is also planning additional sites in Rockdale, Texas, and Alberta, Canada, with various capacities and timelines for completion [9][11].