Tuesday - January 7, 2025
SINGAPORE, July 03, 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 June 2024.
Operational Highlights
Management Commentary
“In June, Bitdeer made substantial progress in advancing our strategic initiatives in Bitcoin mining and HPC and AI,” stated Linghui Kong, Chief Business Officer of Bitdeer. “We entered into a 30-year lease agreement with Monroe County Port Authority for 570 MW of ready-to-use power infrastructure. This deal increases our total global contracted power capacity to 2.5 GW, positioning us with one of the industry’s largest power development platforms. This deal not only enhances our operational and strategic flexibility but also supports our ambitious growth objectives in Bitcoin mining and HPC and AI.”
Mr. Kong added, “In June, we also successfully energized the first batch of Sealminers into our datacenters and began rigorous testing. Additionally, we completed the tape-out of our 14 J/TH SEAL02 chip and expect wafer delivery in Q3 2024. We remain on schedule to deploy 3.4 EH/s of our own ASIC technology into our datacenters in Texas and Tydal, Norway by the fourth quarter of 2024, bringing our total proprietary hash rate to 11.8 EH/s by year-end.”
Production and Operations Summary
Metrics | June 2024 | May 2024 | June 2023 |
Total hash rate under management1 (EH/s) | 22.3 | 22.4 | 18.8 |
- Proprietary hash rate | 8.5 | 8.4 | 6.2 |
• Self-mining | 7.3 | 6.9 | 4.6 |
• Cloud Hash Rate | 1.2 | 1.5 | 1.6 |
- Hosting | 13.8 | 14.0 | 12.6 |
Mining machines under management | 223,000 | 225,000 | 199,000 |
- Self-owned2 | 86,000 | 86,000 | 70,000 |
- Hosted | 137,000 | 139,000 | 129,000 |
Bitcoin mined (self-mining only) | 179 | 184 | 239 |
1 Total hash rate under management as of June 30, 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.
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
BitdeerIR@orangegroupadvisors.com
Public Relations
Wachsman
Bee Shin
bitdeer@wachsman.com
Last Trade: | US$23.28 |
Daily Change: | -2.82 -10.80 |
Daily Volume: | 11,330,709 |
Market Cap: | US$2.770B |
November 18, 2024 October 31, 2024 |
Surf Air Mobility is a regional air mobility platform expanding the category of regional air travel to reinvent flying through the power of electrification. In an effort to substantially reduce the cost and environmental impact of...
CLICK TO LEARN MORENorthstar Clean Technologies is a cleantech company focused on the sustainable recovery and reprocessing of asphalt shingles. Northstar’s mission is to be the leader in the recovery and reprocessing of asphalt shingles in North America...
CLICK TO LEARN MORECOPYRIGHT ©2022 GREEN STOCK NEWS