Expects to mass produce innovative ultra efficient 5J/TH chips by Q4 2025 with investments in R&D

SINGAPORE, June 07, 2024 (GLOBE NEWSWIRE) -- Bitdeer Technologies Group (Nasdaq: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for blockchain and high-performance computing, today announced its research & development (R&D) technology roadmap for the SEALMINER Bitcoin mining machine. This disclosure reaffirms the Company’s ongoing commitment to driving greater transparency in the mining industry.

In the dynamically evolving mining market, two aspects of transparency are particularly crucial for miners. Firstly, miners’ expectations of future technological advancements and delivery timelines of mining machines; Secondly, access to data analytics of mining machine capabilities, equipment inventory, and collective purchasing behavior.

“Bitdeer has a long-term commitment to enhancing transparency in our industry. We believe that the financial models of Bitcoin miners are significantly impacted by price uncertainty. If these two aspects of transparency are not addressed, the mining community is more likely to suffer severe financial losses. Thus, we are pleased to narrow this information gap by disclosing our R&D technology roadmap for SEALMINER,” said Linghui Kong, Chief Business Officer of Bitdeer.

The SEALMINER’s technology roadmap and product release milestones are as follows:

SEAL01 - Chip energy efficiency 18.1J/TH, released in Q1 2024

Previously announced in March 2024, Bitdeer’s 4nm process Bitcoin mining chip SEAL01 has an energy efficiency of 18.1J/TH. SEAL01 has been seamlessly integrated into the SEALMINER A1 mining machine. As Bitdeer’s inaugural mining machine, the SEALMINER A1 is expected to have a wall-mount power consumption between 20J/TH and 23J/TH. The first batch is expected to be mass-produced and delivered in Q3 2024.

SEAL02 - Chip energy efficiency expected to be 14J/TH, planned for release in Q3 2024

The SEAL02 chip is scheduled to be launched in Q3 2024, with an expected chip energy efficiency of 14J/TH. The optimization of the mining machine's wall-mount power consumption is expected to be in the range of 15J/TH to 16.5J/TH. The second-generation SEALMINER mining machine is expected to be mass-produced and delivered starting in Q4 2024.

SEAL03 - Chip energy efficiency expected to be as low as 10J/TH, planned for release in Q4 2024

Planned for launch in Q4 2024, SEAL03 has an expected chip energy efficiency of 10J/TH with the mining machine's optimized wall-mount power consumption expected to be in the range of 11J/TH to 12J/TH. The third-generation SEALMINER mining machine is expected to be mass-produced and delivered in Q2 2025.

SEAL04 - Chip energy efficiency expected to breakthrough to 5J/TH, planned for release in Q2 2025

Slated for launch in Q2 2025, the SEAL04 chip is expected to have a chip energy efficiency of as low as 5J/TH. The optimization of the mining machine's wall-mount power consumption is expected to be in the range of 5.5J/TH to 6J/TH. The fourth-generation SEALMINER mining machine is planned for mass-produced with expected delivery starting in Q4 2025.

Bitdeer has a full fledged team of professional engineers dedicated to R&D across key domains, including ASIC design, algorithm development, platform architecture, software and hardware. The Company will continue to invest in R&D to enhance its long-term competitiveness, offering efficient, sustainable and reliable products and services. It will continue to work alongside its customers in contributing to the security of the Bitcoin decentralized network.

Forward-Looking Statements

Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. The words “anticipate,” “look forward to,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including factors discussed in the section entitled “Risk Factors” in Bitdeer’s annual report on Form 20-F, as well as discussions of potential risks, uncertainties, and other important factors in Bitdeer’s subsequent filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof. Bitdeer specifically disclaims any obligation to update any forward-looking statement, whether due to new information, future events, or otherwise. Readers should not rely upon the information on this page as current or accurate after its publication date.