Bitdeer Expands AI Ventures and Boosts Bitcoin Mining Capacity Amid Growth Challenges

Bitdeer Expands AI Business and Increases Bitcoin Mining Capacity

Bitdeer Technologies Group (NASDAQ: BTDR), a company specializing in crypto mining with a market capitalization of $4.3 billion, is expanding its strategy in high-performance computing and artificial intelligence. This expansion comes alongside an increase in its Bitcoin mining capacities, as reported in a press release on Tuesday by Investing.com Deutsch.

In September, Bitdeer mined 452 Bitcoins, marking a 20.5% increase compared to August. The self-mining hashrate reached 35.0 exahash per second (EH/s), with expectations to reach 40 EH/s by the end of October. The company reported a revenue of $357 million over the last twelve months, reflecting its aggressive growth strategy despite challenges related to cash burn and profitability.

"Our expanded initiatives include direct negotiations with potential tenants, building relationships with EPC companies specialized in data centers, developing our own AI data centers, and hiring internal experts," said Matt Kong, Chief Business Officer at Bitdeer.

Bitdeer confirmed that its power plant in Clarington, Ohio, will provide full electrical capacity of 570 megawatts (MW) by the end of the third quarter of 2026, nearly a year earlier than initially expected. Additionally, a new 300-MW power supply in Niles, Ohio, is set to be operational by the first quarter of 2029.

The company is also transitioning its 175-MW Tydal Phase 2 site into an AI data center, expected to be completed in the fourth quarter of 2026. Furthermore, Bitdeer announced the launch and mass production of its SEALMINER-A3 series, with initial deliveries expected in October. The first tests of the SEAL04 chips showed an efficiency of under 10 joules per terahash (J/TH).

Bitdeer's global power supply pipeline has grown to 3 gigawatts (GW), with locations in the USA, Norway, Bhutan, Canada, and Ethiopia. Despite challenging financial metrics, including an EBITDA of -$157 million, the company continues to adapt to market conditions.

In further updates, Bitdeer reported a 35% increase in its self-mining hashrate to 30 EH/s in August 2025, mining 375 Bitcoins that month, a 33% increase from July. The company plans to repay priority convertible bonds worth $7.7 million before their maturity in 2029, with a repayment date set for September 23, 2025.

Benchmark has reaffirmed its "Buy" recommendation for Bitdeer stock following the release of second-quarter results, maintaining a price target of $240. Cantor Fitzgerald raised its price target for Bitdeer from $23 to $25, citing positive growth prospects. Additionally, BTIG confirmed its "Buy" recommendation and raised its revenue forecast for Bitdeer for the fiscal year 2025 to approximately $564 million.

These developments reflect Bitdeer's continuous progress and adjustments to market conditions, showcasing its commitment to growth in the competitive landscape of cryptocurrency mining and AI technology.

Key Takeaways:

• Bitdeer is expanding its AI and high-performance computing strategies.
• The company mined 452 Bitcoins in September, a 20.5% increase from August.
• Self-mining hashrate reached 35.0 EH/s, with expectations to hit 40 EH/s by October.
• Bitdeer's power plant in Clarington, Ohio, will reach full capacity by Q3 2026.
• Financial challenges persist, with an EBITDA of -$157 million.

Sources:

• Bitdeer baut KI-Geschäft aus und steigert Bitcoin-Mining-Kapazität