Bitdeer Mining Insights

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Bitdeer Technologies Group (NASDAQ: BTDR) has successfully tested its latest Bitcoin mining chip, SEAL03, achieving an impressive power efficiency of 9.7J/TH in ultra power-saving mode. The chip, developed in partnership with TSMC, aligns with the company’s SEALMINER technology roadmap and sets a new efficiency standard in mining hardware.

CleanSpark increased its Bitcoin treasury by approximately 6% in February, adding 624 BTC worth over $55 million at Bitcoin’s spot price of $89,000 as of March 5. According to its latest monthly report, the company sold only 2.73 BTC at an average price of over $95,000 per coin, retaining most of its mined Bitcoin. As of Feb. 28, CleanSpark holds 11,177 BTC, making it the fifth-largest corporate Bitcoin treasury, valued at over $1 billion. The company follows a growing trend among Bitcoin miners to accumulate rather than sell their mined BTC, a strategy pioneered by firms like MicroStrategy.

Bitcoin mining firm Core Scientific has unveiled a $1.2 billion data center expansion in collaboration with AI startup CoreWeave. The announcement comes after its Q4 2024 earnings report, which revealed a net loss of $265.5 million. In its financial report released on Feb. 26, Core Scientific attributed the loss primarily to a $224.7 million non-cash mark-to-market adjustment related to warrants and contingent liabilities. The company clarified that the adjustment was required due to a significant increase in its stock price, affecting financial reporting but not cash flow. Despite the reported loss, Core Scientific continues to expand its operations, with a strong focus on AI-driven data centers.

Bitcoin miner MARA posted record revenue of $214.4 million in Q4 2024, marking a 37% increase from $156.8 million in Q4 2023. Full-year revenue surged 69% to $656.4 million, driven by Bitcoin’s (BTC) price rally and improved infrastructure. CEO Fred Thiel highlighted a 248% rise in net income to $528.3 million in Q4, benefiting from BTC surpassing $100,000. MARA also increased its block rewards by 25%, winning 703 blocks compared to 562 in Q4 2023, mitigating the halving event’s impact on earnings.

Bitdeer Technologies Group (NASDAQ: BTDR) is accelerating its ASIC development and self-mining expansion, aiming for 40 EH/s by Q4 2025. According to Chief Business Officer Matt Kong, Bitdeer has prioritized proprietary ASIC innovation, enhancing competitiveness and vertical integration. The company’s SEALMINER A1 and A2 units will drive rapid deployment, cost efficiency, and supply chain improvements. Bitdeer’s ASIC commercialization has gained strong market traction, with 7 EH/s of SEALMINER A2s already oversubscribed. Additionally, the company is advancing its third and fourth-generation ASIC chips, targeting the highest energy efficiency in the market. With global power capacity exceeding 2.6 GW, including a recent Alberta acquisition, Bitdeer is poised for further growth in Bitcoin mining and HPC/AI data center operations. The company is forming strategic partnerships to address the rising demand for AI infrastructure.