Bitdeer Jumps 30% to All-Time High on AI Expansion

Core Insights - Bitdeer Technologies' stock surged nearly 30% to an all-time high of $27, driven by increased mining output and ambitious AI data-center plans [1] - The combined market capitalization of listed miners has exceeded $90 billion, more than double the level recorded in August, indicating strong confidence in the mining sector [1] Mining Output Hits New Records - Bitdeer mined 452 BTC in September, a 20.5% increase from August, with a self-mining hashrate of 35 exahashes per second, expected to reach 40 EH/s by the end of October [2] - The rollout of new SEALMINER A2 and A3 rigs has contributed to efficiency improvements below 10 joules per terahash [2] - The total power pipeline has reached around 3 gigawatts, with new capacity coming online in Norway, Bhutan, and Ohio, including a site in Clarington, Ohio, expected to deliver 570 megawatts by late Q3 2026, nearly a year ahead of schedule [2] AI Data Centers Poised to Transform Growth - The company plans to allocate over 200 MW of capacity to AI computing by 2026, with optimistic estimates suggesting annual AI-related revenue could exceed $2 billion [3] - Additional conversions in Washington State and Tydal, Norway, are underway to support GPU-intensive workloads [3] Balancing Crypto Revenues with AI Demand - The initiative allows Bitdeer to balance cyclical crypto revenues with steady demand for AI services, providing flexible capacity for clients in cloud computing, autonomous systems, and large-scale model training [4] - This strategy enables the company to monetize excess power during downturns in Bitcoin prices [4]