Nasdaq-listed Bitdeer unveiled plans to expand its U.S. crypto mining rig manufacturing operations
Singapore-headquartered cryptocurrency mining firm Bitdeer revealed intentions to boost U.S. production of mining equipment as profits decline. Jeff LaBerge, the company’s CFO, stated Bitdeer aims to navigate Trump-era tariff policies despite potential disruptions to its supply chain.
LaBerge commended Trump’s strategy, noting it introduced fresh considerations. He emphasized the policies’ alignment with energy priorities and expressed confidence in a Bitcoin-oriented tariff framework to bolster firms like Bitdeer. Earlier reports from The Cryptopolitan disclosed Tether’s $400 million investment for a 21.4% stake (31.8 million shares) in the miner.
The company plans to launch U.S.-based rig manufacturing this year to strengthen its self-mining operations. Bitdeer highlighted competitors’ similar interest in relocating production stateside but confirmed no intention to pivot toward treasury activities despite rising Bitcoin reserves.
LaBerge emphasizes pragmatic strategy
The CFO clarified Bitdeer’s focus on practicality over positioning itself as a Bitcoin treasury. He stressed that holding BTC on its balance sheet does not define corporate identity. Challenges cited include escalating operational costs, shrinking mining rewards, and macroeconomic volatility affecting the sector.
An analyst highlighted Q2 results as evidence of successful vertical integration, transforming Bitdeer from a pure miner to a tech solutions provider. Its SEALMINER A2 machines reportedly delivered cost efficiencies and operational growth.
However, critics may flag concerns like rising R&D and administrative expenses, mounting debt ($533 million), and expansion risks. Q2 operating costs of $42.3 million signaled notable cash usage, requiring revenue consistency to offset Bitcoin price sensitivity and innovation investments.
Bitdeer prioritizes accelerated expansion
Chief Business Officer Matt Kong stated on August 18 that boosting self-mining capacity is central to 2025 growth. Q2 marked a strategic turning point, with expectations for stronger H2 performance. He reaffirmed timelines for reaching 40EH/s by late October and surpassing 2025 goals via improved semiconductor allocations.
Kong shared advancements in the SEALMINER A4 project, targeting 5 J/TH energy efficiency. July saw progress in U.S. engineering team growth and custom silicon software, solidifying Bitdeer’s role as a top provider of efficient mining hardware. These efforts aim to enhance market position and stakeholder value.
Kong noted activation of 361 MW in self-mining facilities, raising total capacity to 1.3 GW, projected to exceed 1.6 GW by year-end. The Ohio site nears full 570 MW utilization, underscoring infrastructure scaling efforts.
Source: cryptonews.net
