Bitdeer Scales Bitcoin Output as AI Data Deal Hits $4.7 Billion

Revenue climbed 47% to $228.8 million, slightly outpacing Wall Street expectations, as the average self-mining hashrate jumped 389% to 69.5 exahashes per second. Despite the production spike, the company held only 150 BTC at quarter-end, following a strategic decision in February to liquidate its entire 943 BTC treasury for liquidity. The firm continues to invest heavily in its vertical integration, including a new $36 million manufacturing facility in Nevada dedicated to its proprietary SEALMINER hardware.

Beyond mining, Bitdeer is pivoting toward high-performance computing. Its Tydal Data Center subsidiary finalized a 16-year, $4.7 billion agreement with Volta Tydal AS to provide 121 megawatts of capacity in Norway. While the deal promises significant long-term revenue, the project requires an additional $500 million in capital expenditure. Bitdeer plans to fund this construction through debt, aiming to balance its established mining operations with a growing portfolio of AI-ready infrastructure as it navigates ongoing quarterly losses.