SINGAPORE, Aug. 05, 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 unaudited mining and operations updates for July 2024.
Operational Highlights
Management Commentary
“In July, we continued to advance our strategic initiatives in Bitcoin mining and HPC/AI,” stated Linghui Kong, Chief Business Officer of Bitdeer. “Our first-generation SEALMINERs, energized last month, have been performing within our expectations and we remain on track to energize 3.4 EH/s by year end, bringing our total proprietary hashrate to 11.8 EH/s. For our second-generation chip, SEAL02, initial tape-out wafer delivery from TSMC remains on track for late September. Upon successful testing, we anticipate ramping mass production by the end of the year.”
Mr. Kong continued, “Building on our existing AI Cloud Services powered by NVIDIA GDX SuperPODs, in July, we engaged a leading consultant in HPC/AI datacenter engineering and construction, TLM Group, to conduct a comprehensive due diligence on all of our sites worldwide and to advise us on our global HPC/AI strategy. This assessment will determine the best monetization options of our massive 2.5 GW global power portfolio for HPC and AI applications.”
Production and Operations Summary
Metrics | July 2024 | June 2024 | July 2023 |
Total hash rate under management1 (EH/s) | 21.2 | 22.3 | 20.6 |
- Proprietary hash rate | 8.6 | 8.5 | 7.9 |
• Self-mining | 7.5 | 7.3 | 3.8 |
• Cloud Hash Rate | 1.1 | 1.2 | 1.6 |
- Hosting | 12.6 | 13.8 | 12.7 |
Mining machines under management | 212,000 | 223,000 | 215,000 |
- Self-owned2 | 87,000 | 86,000 | 85,000 |
- Hosted | 125,000 | 137,000 | 130,000 |
Bitcoin mined (self-mining only) | 181 | 179 | 220 |
1 Total hash rate under management as of July 31, 2024 across the Company’s three primary business lines: Self-mining, Cloud Hash Rate, and Hosting.
2 Self-owned mining machines are for the Company’s self-mining business and Cloud Hash Rate business.
Infrastructure Construction Update
Rockdale, Texas - Hydro-cooling conversion
Rockdale, Texas 100 MW hydro-cooling conversion key milestones achieved:
Tydal, Norway
Tydal, Norway 175 MW site expansion is progressing well, with several key milestones achieved:
Massillon Ohio
Ohio, U.S.A. 221 MW site is also making progress:
Jigmeling, Bhutan
Jigmeling, Bhutan 500MW site is progressing well, with the following key milestones achieved:
Power Infrastructure Summary
Site / Location | Capacity (MW) | Status | Timing3 |
Energized capacity | |||
Rockdale, Texas | 563 | Online | Completed |
Knoxville, Tennessee | 86 | Online | Completed |
Wenatchee, Washington | 13 | Online | Completed |
Molde, Norway | 84 | Online | Completed |
Tydal, Norway | 50 | Online | Completed |
Gedu, Bhutan | 100 | Online | Completed |
Total energized capacity | 895 | ||
Pipeline capacity | |||
Tydal, Norway Phase 1 | 40 | In progress | Q4 2024 |
Tydal, Norway Phase 2 | 135 | In progress | Mid 2025 |
Massillon, Ohio | 221 | In progress | Mid-to-late 2025 |
Clarington, Ohio Phase 1 | 266 | In progress | Q3 2025 |
Clarington, Ohio Phase 2 | 304 | Pending approval | Estimate 2026 |
Jigmeling, Bhutan | 500 | In progress | Mid-Late 2025 |
Rockdale, Texas | 179 | In planning | Estimate 2026 |
Total pipeline capacity | 1,645 | ||
Total global contracted capacity | 2,540 |
3 Indicative timing. All timing references are to calendar quarters and years.
Upcoming Conferences and Events
About Bitdeer Technologies Group
Bitdeer is a world-leading technology company for blockchain and high-performance computing. Bitdeer is committed to providing comprehensive computing solutions for its customers. The Company handles complex processes involved in computing such as equipment procurement, transport logistics, datacenter design and construction, equipment management, and daily operations. The Company also offers advanced cloud capabilities to customers with high demand for artificial intelligence. Headquartered in Singapore, Bitdeer has deployed datacenters in the United States, Norway, and Bhutan. To learn more, visit https://ir.bitdeer.com/ or follow Bitdeer on X @ BitdeerOfficial and LinkedIn @ Bitdeer Group.
Investors and others should note that Bitdeer may announce material information using its website and/or on its accounts on social media platforms, including X, formerly known as Twitter, Facebook, and LinkedIn. Therefore, Bitdeer encourages investors and others to review the information it posts on the social media and other communication channels listed on its website.
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.
For investor and media inquiries, please contact:
Investor Relations
Orange Group
Yujia Zhai
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Public Relations
Wachsman
Bee Shin
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Last Trade: | US$20.49 |
Daily Change: | 2.35 12.95 |
Daily Volume: | 10,324,595 |
Market Cap: | US$2.430B |
November 18, 2024 October 31, 2024 |
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