Bitdeer Technologies Group has signed a lease agreement with the Monroe County Port Authority to secure an additional 570 megawatts (MW) of power capacity. This expansion brings Bitdeer’s total global capacity to 2.5 gigawatts (GW). Bitdeer Expands Power Capacity With New Partnership in Ohio Bitdeer, a Nasdaq-listed company, has leased land at the Hannibal Industrial […]
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Bitcoin Miner Bitdeer Expands With Acquisition of ASIC Designer Desiweminer
Bitdeer Technologies Group announced its acquisition of Desiweminer, a noted player in the crypto ASIC design landscape. The agreement, finalized on June 3, 2024, involves the exchange of 20 million Bitdeer shares and introduces stringent transfer restrictions, with a vesting period extending up to seven years. Bitdeer and Desiweminer Join Forces in Multimillion-Share Acquisition Deal […]
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Bitdeer Announces $100 Million Investment From Tether
On Friday, the publicly listed mining company Bitdeer Technologies Group revealed that the leading stablecoin firm Tether has purchased 0 million in Bitdeer shares. Additionally, Tether holds an option to acquire an additional million in shares in the future. Bitdeer and Tether Forge Partnership With 0 Million Share Purchase Tether has acquired 0 million […]
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Bitdeer Utilizes Chip Giant TSMC, Eyeing $60M in Bitcoin Mining Equipment Production
According to the publicly-listed mining corporation Bitdeer, the company is employing Taiwan Semiconductor Manufacturing Company (TSMC) for its Sealminer A1 mining rigs for the third quarter. Bitdeer also disclosed that it extracted 294 bitcoins in March, marking a 28.4% enhancement over March 2023’s earnings. Ahead of Bitcoin’s Next Halving, Bitdeer Taps TSMC for Proprietary Mining […]
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Bitcoin Miner Bitdeer Seeks $100 Million for Mining Capacity Expansion
Bitcoin miner Bitdeer is reportedly in discussions with private credit firms to secure 0 million in funding to expand its mining capacity. It is believed that the cryptocurrency miner has engaged a financial adviser to assist with the negotiations. Negotiations Between Bitdeer and Lenders Continue The cryptocurrency mining firm Bitdeer Technologies Group is reportedly seeking […]
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Bitdeer to Boost BTC Mining Capacity With Proprietary Sealminer A1 Rigs, Eyeing 46 EH/S Milestone by 2025
The Nasdaq-traded company specializing in bitcoin mining, Bitdeer, has unveiled its strategy to boost its overall hashrate by an additional 3.4 exahash per second (EH/s) through the deployment of its proprietary Sealminer A1 mining devices. These advanced rigs are slated for setup within Bitdeer’s mining facilities located in Texas and Norway, targeting the latter half […]
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Bitcoin Miner Bitdeer Says It Has Launched Its ‘First Cryptocurrency Mining Chip’
Bitdeer, a bitcoin miner, recently announced the launch of what it refers to as its “first cryptocurrency mining chip.” Bitdeer claimed that the chip could potentially improve bitcoin mining performance without excessive power consumption. New Rig to Help Bitcoin Miners Minimize Operational Costs Bitdeer, a leading bitcoin mining firm, has launched what it describes as […]
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Publicly-Listed Bitcoin Miner Bitdeer Expands Into AI With Nvidia
Several bitcoin mining enterprises are shifting their focus to artificial intelligence (AI) computing and cloud services. In a recent development, the publicly traded blockchain and high-performance computing company Bitdeer, disclosed its expansion into AI. This strategic move involves providing Nvidia-powered graphics processing unit (GPU) services.
Bitdeer Joins Nvidia Partner Network, Eyes Asian Market for AI Supercomputing
On Thursday, the Singapore-based Bitdeer (Nasdaq: BTDR) revealed its foray into AI service offerings by becoming a member of the Nvidia Partner Network as a cloud service provider of choice. With a particular focus on the Asian market, Bitdeer said it is poised to offer Nvidia-enabled AI supercomputing capabilities. The company’s objective is to expedite the advancement of generative AI, extensive language models (LLMs), and additional AI workloads in the region.
The latest offering from Bitdeer is dubbed “Bitdeer AI Cloud,” which will be equipped with Nvidia’s DGX Superpod and DGX H100 systems. Nvidia’s DGX Superpod provides a scalable infrastructure that, when integrated with Nvidia’s DGX systems, offers a turnkey solution for deploying AI supercomputers. Bitdeer asserts that its AI Cloud will deliver services that supply businesses and innovators with “state-of-the-art” computing power through Nvidia’s DGX systems.
“We are excited to work with Nvidia to lay the groundwork for the next era of AI and large language model advancements in Asia,” Matt Linghui Kong, the CEO of Bitdeer stated.
In August 2023, Iris Energy, a bitcoin mining company, branched out into AI with a million investment in Nvidia GPUs. Similarly, Tether and Northern Data have ventured into the AI space, investing 0 million in acquiring 10,000 Nvidia H100 units. On Thursday, Bitdeer’s announcement outlined a strategic timeline consisting of four phases: Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS), and Application as a Service (AaaS).
“Generative AI empowers businesses to unlock unprecedented scalability, reliability, and innovation,” Tony Paikeday, senior director of the DGX platform remarked. With its Nvidia DGX infrastructure, Bitdeer can provide the AI supercomputing and software needed to build and deploy generative AI models and services.”
What do you think about Bitdeer jumping into the AI sector? Share your thoughts and opinions about this subject in the comments section below.
The Kingdom of Bhutan’s Business Division Explores Crypto Ventures With Bitdeer Partnership
A recent report reveals that Druk Holding & Investments (DHI), the business division of Bhutan’s Royal Government, is exploring crypto initiatives to enhance its portfolio expansion. DHI recently teamed up with Singapore-based crypto company Bitdeer to “jointly develop green digital asset mining operations in the Kingdom of Bhutan.”
Bhutan’s DHI Executive Says the Kingdom Is ‘Focusing on the New Generation of Industries’
On May 20, 2023, the Financial Times (FT) disclosed that DHI is highly interested in crypto asset ventures and enterprises. The FT journalist elaborates that DHI has been experimenting with investments connected to bitcoin (BTC) mining and drone technology. The article cites DHI’s CEO, Ujjwal Deep Dahal, who informed FT that Bhutan is “focusing on the new generation of industries.”
The article also highlights the current collaboration between the publicly-traded bitcoin mining company Bitdeer, announced in early May. DHI’s CEO remarked that “partnering with Bitdeer to launch a carbon-free digital asset mining datacenter represents an investment in a more connected and sustainable domestic economy, helping ensure we are at the forefront of global innovation.” At the time, Bitdeer’s chairman and former Bitmain CEO, Jihan Wu, stated:
We are thrilled to join forces with DHI in harnessing Bhutan’s zero-emission energy to sustainably empower blockchain technologies, which will ultimately serve as an unchangeable foundation for a worldwide store of value.
In essence, Bitdeer and DHI aim to introduce a closed-end fund with an estimated value of up to 0 million. The announcement specified that the fund’s fundraising objectives will commence by late May. Both parties intend to establish a 100-megawatt (MW) bitcoin mining facility in Bhutan. “The partnership will enable Bitdeer to tap into Asia’s abundant resources, contributing to the flourishing regional ecosystem,” according to the announcement.
As per the FT report, Hashrate Index executive Jaran Mellerud informed the publication that Bhutan could potentially become “the biggest bitcoin miner per capita in the world.” Moreover, while the 2022 crypto winter was brutal for bitcoin miners, Dahal opined that the mining sector was less hazardous. “We’re sticking largely to the mining sector which seems to be the least risky vertical,” DHI’s CEO revealed.
In 2021, DHI managed billion in assets as it held and oversaw the government’s commercial businesses. These investments encompass international real estate, global equities, and startup ventures. The firm believes that bitcoin mining operations and other technologies exemplify DHI’s “future-facing investment strategy.” In mid-April 2023, an intriguing revelation surfaced regarding the Himalayan kingdom’s discreet involvement in cryptocurrency investments through Celsius and Blockfi.
Forbes uncovered that DHI’s name was mentioned in the bankruptcy filings of both companies, yet the CEO of DHI refrained from commenting on the matter during that period. Dahal, the CEO, responded, “We do not have any comments as the matter with Blockfi has been settled. We are not able to comment due to confidentiality.”
What are your thoughts on Bhutan’s strategic foray into crypto investments and its partnership with Bitdeer to develop green digital asset mining operations? Share your thoughts and opinions in the comments section below.
Bitcoin Miner Bitdeer Technologies to List on Nasdaq via SPAC Deal
According to a recent filing with the U.S. Securities and Exchange Commission (SEC), Bitdeer Technologies Holdings, a digital mining firm founded by crypto-billionaire Jihan Wu in 2018, plans to be listed on Nasdaq this Friday. The bitcoin mining firm is scheduled to go public through a special purpose acquisition company (SPAC) deal with Blue Safari Group, as noted in the business combination filing.
Bitdeer to Be Publicly Listed on Nasdaq Under the Ticker Symbol BTDR
A Singaporean company, Bitdeer Technologies Holdings, founded in 2018 by former Bitmain CEO Jihan Wu, plans to go public and be listed on the Nasdaq stock exchange on April 14, 2023, according to a recently published filing with the U.S. Securities and Exchange Commission (SEC). The firm will use the ticker symbol “BTDR.” Bitdeer operates mining farms in Europe and North America and has strategic partnerships with mining pools including Btc.com, Viabtc, Foundry USA, Antpool, F2pool, and Btc.top.
In September of last year, Bitdeer established a 0 million fund to purchase assets from distressed bitcoin miners. Also in September, the company acquired Singapore’s Le Freeport storage facility, also known as “Singapore’s Fort Knox.” According to the latest filing with the SEC, the company has reached a SPAC deal with Blue Safari Group. Shareholders of Blue Safari approved the deal at an extraordinary general meeting on April 11, 2023.
“Today marks a significant milestone for Bitdeer, leaving us poised to list on the Nasdaq and equipped to seize the growth opportunities ahead of us,” Linghui Kong, the CEO of Bitdeer said in a statement. “I am incredibly proud of what we have achieved so far, and look forward to embarking on the next chapter of our journey. We are already a leading hash rate supplier, and our public listing will allow us to make even greater contributions to the crypto economy.”
Since 2021, publicly listed bitcoin mining companies have become a fixture on traditional stock exchanges. However, many of these firms experienced significant declines in their shares during 2022. In contrast, 2023 has been a better year for bitcoin mining companies, as the price of bitcoin (BTC) has risen 80% since the last day of December and 36.3% over the last 30 days. Over the past week, shares of publicly listed bitcoin mining firms such as Riot Blockchain, Bitfarms, Marathon Digital, and Cleanspark have increased in value against the U.S. dollar.
What do you think about the recent surge in bitcoin prices and its impact on the publicly listed bitcoin mining firms? Do you think Bitdeer Technologies Holdings’ decision to go public via SPAC deal with Blue Safari Group is a wise move? Share your thoughts in the comments section below.