Bitdeer Technologies Group, a Bitcoin mining company listed on Nasdaq, is intensifying its self-mining initiatives while advancing plans for manufacturing within the United States. This strategic pivot comes as the cryptocurrency sector faces challenges from a cooling market and increasing trade policy uncertainties.
Headquartered in Singapore, Bitdeer boasts one of the largest mining facilities globally located in Texas. In this evolving environment, the company is adjusting its business model, as selling mining rigs to external clients has become less profitable.
Bitdeer Shifts Focus to Self-Mining, Moves Away from Equipment Sales
During an interview with Bloomberg, Jeff LaBerge, who leads capital markets and strategic initiatives at Bitdeer, stated that the company will redirect its efforts toward using its own mining rigs for production rather than selling them. This marks a significant change in focus due to a declining market for mining equipment.
LaBerge emphasized, “Our plan going forward is to prioritize our own self-mining,” highlighting the need for a strategic adjustment amid challenging market conditions.
Profit margins for Bitcoin mining have been squeezed, as indicated by the hashprice—a metric reflecting revenue per unit of mining power—reaching near record lows. This downturn follows the previous year’s halving event, which reduced miner rewards by half.
Bitcoin mining hashrate is rapidly approaching 1 zettahash. pic.twitter.com/ZS0SkkidXb
— Pierre Rochard (@BitcoinPierre) April 6, 2025
Additionally, U.S. tariffs imposed by President Donald Trump have disrupted supply chains for mining rigs, particularly those reliant on assembly in China and Southeast Asia. As a response, Bitdeer intends to take advantage of a recently announced 90-day tariff suspension to facilitate the import of mining rigs from Southeast Asia to the U.S.
However, the delay in some client deliveries of pre-ordered rigs has led Bitdeer to reroute those units to its operations in Bhutan and Norway, demonstrating the adaptability required amidst ongoing trade challenges.
Looking ahead, the company is set to launch a U.S.-based manufacturing operation later this year, aiming to localize production and shield itself from potential supply chain disruptions. This initiative aligns with similar actions by Bitmain Technologies Ltd., the leading manufacturer of mining rigs, which established a production line in the U.S. last year. Notably, Bitdeer’s founder Jihan Wu is also a co-founder of Bitmain.
LaBerge remarked, “This is something we’ve been planning for a long time. We want to bring jobs and manufacturing back to America.”
Bitdeer Plans to Triple Bitcoin Mining Capacity by 2026
Currently, Bitdeer manages approximately 900 megawatts of global mining capacity, with aspirations to expand to 2.6 gigawatts by 2026. The company is also exploring new markets, including Canada and Ethiopia, while venturing into artificial intelligence and high-performance computing. Its extensive data centers in Texas and Ohio are poised to support these new initiatives.
While the specialized chips used in Bitcoin mining, sourced from Taiwan’s TSMC, are currently exempt from tariffs, LaBerge noted the company’s proactive approach in anticipating potential cost increases in the future.
“The entire industry is trying to get clarity on how these tariffs might apply,” he stated. “We’re modeling for higher costs just in case.”
Earlier this year, Bitdeer further enhanced its Bitcoin holdings with a $4 million investment, acquiring 50 BTC at an average price of $81,475 each.
In the last two months, Bitcoin mining company Bitdeer increased its BTC holdings by 75%.
This is how the Singaporean company became one of the most notable Bitcoin miners (and recovered from a $500 million loss):
Bitdeer Technologies, a Singapore-based mining company, made… pic.twitter.com/2MkljOPPNs
— Super (@SuperDuperCycle) March 17, 2025
Recently, Bitdeer announced the successful testing of its newest Bitcoin mining chip, the SEAL03, which has met its designed performance criteria. The chip demonstrated an impressive power efficiency ratio of 9.7J/TH during verification and prototype testing, operating at low voltage in an ultra power-saving mode.
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