Bitdeer Mining Insights

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Bit Digital, an Ethereum-focused treasury firm backed by Brock Pierce, announced plans to fully wind down its Bitcoin mining operations as it deepens its focus on Ethereum and artificial intelligence infrastructure. In a letter to shareholders, CEO Sam Tabar said Bitcoin mining has become a less efficient use of capital compared with opportunities offering yield generation and operational leverage. The company has consolidated its digital asset exposure into Ethereum and expanded its AI footprint through its majority stake in WhiteFiber. Founded as a Bitcoin miner in 2020, Bit Digital began accumulating and staking ETH in 2022 and launched Bit Digital AI in 2023, positioning itself early in the sector’s shift toward high-performance computing.

The Bitcoin mining hashrate secured by Foundry USA’s mining pool fell by around 60% after miners across the United States curtailed operations amid severe winter weather. According to TheMinerMag, Foundry USA’s hashrate declined by nearly 200 EH/s since Friday, temporarily slowing average Bitcoin block times to about 12 minutes. Despite the sharp drop, Foundry USA still controls roughly 198 EH/s, accounting for about 23% of global mining pool hashrate, based on Hashrate Index data. The curtailments also affected other U.S.-focused mining pools, including Luxor, as winter storm Fern swept across the country. Miners reduced power usage to ease pressure on electricity grids, highlighting how extreme weather events can quickly impact Bitcoin network performance and mining operations.

Bitdeer AI, part of Bitdeer Technologies Group (NASDAQ: BTDR), announced the deployment of NVIDIA GB200 NVL72 infrastructure in Malaysia, accelerating its global AI cloud expansion. Built for advanced AI workloads, the launch supports Bitdeer’s strategy to repurpose mining assets and scale GPU-optimized data centers worldwide. With nearly 3 GW of global power capacity and new facilities across the U.S. and Europe, Bitdeer AI is moving toward a full-stack AI cloud spanning IaaS, PaaS, and SaaS, aiming to deliver simplified, scalable AI computing globally.

Crypto mining hardware manufacturer Canaan Inc. has received a Nasdaq warning after failing to meet the exchange’s minimum bid price requirement. The company said Nasdaq notified it that its shares had traded below $1 for 30 consecutive business days, placing it out of compliance with listing rules. Canaan now has 180 days, until July 13, to regain compliance by maintaining a closing bid price of at least $1 for 10 consecutive trading days. Canaan’s shares have fallen about 63% over the past year and last closed above $1 on Nov. 28. The warning comes amid broader industry shifts, as many crypto mining companies reduce hardware purchases and pivot toward providing computing power for artificial intelligence and high-performance computing, adding further pressure on traditional mining equipment demand.

Bitcoin mining company CleanSpark has agreed to acquire 447 acres of land in Brazoria County, Texas, marking a major step in its expansion into artificial intelligence (AI) and high-performance computing (HPC). The land purchase supports plans to build a 300-megawatt data center, with potential expansion to 600 MW, designed specifically for AI and HPC workloads. CleanSpark said the move reflects rising demand for large-scale, AI-ready computing and limited access to transmission-level power in key regions. The strategy also highlights a broader industry trend, as miners diversify beyond crypto mining amid rising Bitcoin mining difficulty and margin pressure.