Bitdeer Announces February 2026 Production and Operations Update

Core Insights - Bitdeer Technologies Group reported significant growth in its self-mining operations, achieving a hashrate of 68 EH/s in February 2026, driven by capital investments and deployment of SEALMINER rigs [3][9] - The company successfully completed a $375 million senior convertible note offering, enhancing its financial flexibility to pursue AI and colocation strategies [3] - Bitdeer mined 705 Bitcoins in February 2026, marking a 541% year-over-year increase, and expects continued growth in hashrate [9] Financial Performance - The total hash rate under management increased to 79.1 EH/s in February 2026 from 78.1 EH/s in January 2026, with proprietary hash rate rising to 70.1 EH/s [15] - The company holds 51 Bitcoins as of February 2026, down from 1,530 in January 2026 [15] Operational Update - The SEALMINER A3 model saw an increase in deployment from 8.7 EH/s in January to 11.4 EH/s in February 2026, while SEALMINER A2's deployment rose to 48.4 EH/s [5] - Bitdeer is in advanced negotiations for colocation agreements in Tydal, Norway, and Clarington, Ohio, among other locations [11] Infrastructure Development - The company is progressing with the construction of its U.S. SEALMINER factory, with a lease signed and construction permit application submitted [10] - Various data center conversions are underway, including the Tydal, Norway AI data center, expected to be completed by the end of 2026 [18] AI Cloud Services - Bitdeer reported a utilization rate of 64% for its GPU cloud services, with an annual recurring revenue (ARR) of approximately $21 million [12][14] - The company plans to increase the hourly rate for its H100 GPUs due to strong demand from clients [14]