Bitdeer Technologies Expands Bitcoin Treasury
Bitdeer Technologies (BTDR), a prominent player in the cryptocurrency mining industry, has significantly increased its bitcoin (BTC) holdings by nearly 75% within a two-month period. This surge was achieved by reallocating some of its mining rigs toward self-production after receiving requests from customers to postpone payments for the SEALMINER A2 units, coinciding with a notable decline in bitcoin’s market price.
Current Bitcoin Holdings and Market Position
As of February 2025, Bitdeer’s total bitcoin reserves have climbed to 1,039 BTC, a substantial increase from the 594 BTC recorded in December. This remarkable growth positions Bitdeer among the leading bitcoin miners in terms of BTC treasuries. However, it still lags behind the largest holders in the industry, such as Marathon Digital Holdings with 46,374 BTC and Riot Platforms, which holds 18,692 BTC.
Focus on Innovation and Expansion
Bitdeer’s primary focus lies in the advancement of its bitcoin mining chip technology. The company recently reported promising results from its new A3 miner, which has demonstrated significant energy efficiency in testing phases. Despite these advancements, Bitdeer faced a net loss of $531.9 million in the fourth quarter, largely attributed to its investments in developing new mining rigs.
Mining Production and Hash Rate Growth
In February, Bitdeer produced 110 BTC, a decrease from 126 BTC in January, which can be partially explained by the shorter month. Nevertheless, the mining firm has seen its total proprietary hash rate increase, rising to 9.4 exahashes per second (EH/s) from 8.9 EH/s in December, indicating a commitment to enhancing its mining capabilities.
Market Response and Share Performance
In response to these developments, Bitdeer’s shares experienced a slight uptick, rising 0.85% to $10.66 in Nasdaq trading. This reflects investor confidence in the company’s strategic adjustments and its future potential in the competitive landscape of bitcoin mining.
Overall, Bitdeer Technologies is positioning itself strategically within the cryptocurrency market, leveraging its technological advancements and operational adjustments to enhance its position as a key player in the industry.
