Overview
- Bitdeer says it ended December with 71 EH/s under management, including 55.2 EH/s for self-mining, versus MARA’s reported 61.7 EH/s energized hashrate.
- December production reached 636 BTC, up 339% year over year, which the company links to wider SEALMINER deployment and its SEAL04-1 chip’s 6–7 J/TH chip-level efficiency.
- Analyst Matt Sigel estimates Bitdeer’s capacity at roughly 6% of global hashrate and notes active coin sales to fund an AI shift, with Bitdeer’s metric not directly comparable to MARA’s.
- Bitdeer details AI and high-performance computing buildouts across the U.S., Canada, Ethiopia, and Norway, plus GB200 system tests in Malaysia and 1,152 GPUs deployed across campuses.
- To support the transition, Bitdeer disclosed a $400 million convertible notes placement and a $148.4 million direct share offering, alongside negative $1.73 billion levered free cash flow, $916 million in debt, and a smaller BTC treasury than MARA (2,017 vs 55,000+).