Overview
- Bitdeer reported 71 EH/s under management, including 55.2 EH/s for self-mining, after producing 636 BTC in December, up 339% year over year.
- VanEck’s Matt Sigel estimated the reported capacity equals roughly 6% of global bitcoin hashrate.
- Output gains were driven by proprietary SEALMINER rigs, with the SEAL04-1 chip tested at roughly 6–7 J/TH at the chip level and mass production targeted for early 2026.
- The company sold about 1.4 EH/s of SEALMINER A2 units in December and is testing eight NVIDIA GB200 systems in Malaysia ahead of an early-2026 cloud launch.
- Despite rapid growth, Bitdeer reported negative levered free cash flow of $1.73 billion and $916 million in debt, raised $400 million in convertible notes plus $148.4 million in equity, and has been selling mined bitcoin to fund AI/HPC expansion.