Core Insights - Bitdeer reported a significant revenue increase of 173% year over year, reaching $169.7 million, and turned adjusted EBITDA from negative $7.9 million to positive $43 million [1][3] - The company doubled its self-mined Bitcoin output to 1,109 BTC and achieved a hashrate of 41.2 exahash as of October, marking over a 4x increase in self-mining capacity in the last ten months [2][3] - Bitdeer is shifting its strategy from hosting and cloud-mining to internal deployment of its own hardware, which has contributed to the revenue surge [3] Financial Performance - The company reported a net loss of $207 million this quarter, primarily due to non-cash changes related to convertible notes [4] - Bitdeer is implementing a strategy to retire existing convertible notes and issue new ones, alongside an 11 million-share private placement to noteholders [4] Product Development - Mass production of the SEAL Miner A3 ASIC has commenced, while the A4 chip is undergoing in-house testing with efficiency levels of 6–7 J/TH at the chip level [5] - The company is facing delays in the A4 chip development due to the need to rewrite parts of the internal design software [5][6] AI and HPC Expansion - Bitdeer plans a 40MW AI cloud buildout across Singapore, Malaysia, Washington, and Tennessee, with a larger 175MW facility planned for Norway in 2026 [7] - The company is pursuing large-scale AI co-location at its 570MW Clarion site in Ohio, where demand from potential customers is reportedly strong [7]