Bitdeer Announces December 2025 Production and Operations Update
Rhea-AI Summary
Bitdeer (NASDAQ: BTDR) released its December 2025 production and operations update on Jan 12, 2026. Key operational highlights: self-mining produced 636 BTC (≈339% YoY; +21% vs Nov 2025) and self-mining hashrate reached 55.2 EH/s. Total hash rate under management rose to 71.0 EH/s from 21.6 EH/s a year earlier. Proprietary deployed hash rate was 58.0 EH/s. Mining rigs under management increased to 293,000. GPU cloud footprint reached 1,152 GPUs with ~61% utilization and ~$10 million ARR. Infrastructure capacity (operational + pipeline) totals 3,002 MW, with several AI conversion and energization timelines targeting 2026–2028 and some site energization delays noted.
Positive
- Bitcoin production +339% year-over-year (636 BTC in Dec 2025)
- Self-mining hashrate at 55.2 EH/s (operational scale-up)
- Total hash rate under management 71.0 EH/s versus 21.6 EH/s Dec 2024
- Mining rigs under management increased to 293,000 from 175,000
- GPU cloud: 1,152 GPUs deployed with ~61% utilization and ~$10M ARR
Negative
- Massillon energization of ~26 MW postponed pending site assessment
- Fox Creek (Alberta) energization rescheduled, now targeted Q2 2027
News Market Reaction
On the day this news was published, BTDR gained 6.60%, reflecting a notable positive market reaction. Our momentum scanner triggered 8 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $190M to the company's valuation, bringing the market cap to $3.07B at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
BTDR declined 1.88% while key software peers showed mixed but mostly negative moves: NATL -0.69%, AGYS -1.12%, DAVE -12.63%, GRND -0.23%, and NCNO +0.55%. With no peers in the momentum scanner, trading appears more stock-specific than sector-driven.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 15 | Ops update | Positive | -7.5% | November 2025 production growth across self-mining and AI cloud metrics. |
| Nov 13 | Equity offering | Negative | -20.3% | Pricing of registered direct share sale with significant new equity issuance. |
| Nov 13 | Debt offering | Negative | -20.3% | US$400.0M 4.00% convertible notes due 2031 with potential future dilution. |
| Nov 12 | Debt placement | Negative | -7.2% | Proposed US$400.0M private placement of convertible senior notes to 2031. |
| Nov 12 | Equity offering | Negative | -7.2% | Proposed registered direct offering of Class A shares tied to note repurchase. |
Operational updates with strong growth previously coincided with negative price reactions, and recent equity/convertible financings also saw sharp sell-offs, suggesting a pattern of cautious trading around both growth and capital-raising news.
Over the last few months, Bitdeer has paired rapid operational growth with sizable capital markets activity. On Nov 12–13, 2025, it announced and priced a registered direct equity offering and US$400.0 million of convertible notes, plus a proposed private placement, all followed by double-digit percentage declines. On Dec 15, 2025, a strong November production update with higher self-mined Bitcoin and hash rate still saw a -7.51% move. Today’s December 2025 update continues the theme of expanding self-mining, AI cloud and infrastructure on top of that financing backdrop.
Market Pulse Summary
The stock moved +6.6% in the session following this news. A strong positive reaction aligns with the substantial operational momentum highlighted in this update. Self-mining hashrate reached 55.2 EH/s and monthly Bitcoin production rose to 636 BTC, while GPU cloud ARR held around $10 million with 1,152 high-end GPUs deployed. Historically, however, the stock saw sharp declines after prior growth and financing news, so investors have previously reassessed gains once equity and convertible issuance effects were digested.
Key Terms
eh/s technical
proof-of-concept (poc) technical
iam technical
arr financial
AI-generated analysis. Not financial advice.
- Increased self-mining hashrate to 55.2 EH/s on continued deployment of SEALMINERs
- Bitcoin production increased
339% year over year to 636 Bitcoin - 8 units of GB200 deployed and under testing in Malaysia
SINGAPORE, Jan. 12, 2026 (GLOBE NEWSWIRE) -- Bitdeer Technologies Group (NASDAQ: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for Bitcoin mining and AI cloud, today announced its unaudited mining and operations updates for December 2025.
Operational Update
- Self-mining:
- Mined 636 Bitcoins, an increase of approximately
339% year over year and21% from November 2025. - Self-mining hashrate reached 55.2 EH/s.
- Bitdeer will continue deploying SEALMINER mining rigs for self-mining to continue the Company’s growth in self-mining capacity while concurrently retiring third-party, older-generation rigs.
- Mined 636 Bitcoins, an increase of approximately
- SEALMINER Manufacturing:
- ~1.4EH/s of SEALMINER A2s were sold to external parties in December, 2025.
| Mining Rig Model (EH/s) | Stage | December 2025 | November 2025 |
| SEALMINER A3 | In final assembly | 0.6 | 0.9 |
| In transit | 2.5 | 2.9 | |
| Cumulative A3 Deployed | 5.9 | 0.6 | |
| SEALMINER A2 | In final assembly | 1.8 | 2.9 |
| Ready for shipping | 0.1 | 0.1 | |
| In transit | 3.4 | 3.3 | |
| Cumulative A2 external sales | 7.9 | 6.4 | |
| Cumulative A2 Deployed | 39.7 | 34.3 | |
| SEALMINER A1 | Cumulative A1 Deployed | 4.2 | 4.2 |
| 3rd Party Miners | Cumulative Deployed | 8.2 | 8.2 |
| Total Proprietary Hash Rate | Deployed | 58.0 | 47.3 |
- SEALMINER R&D:
- Planned two different chip designs of SEAL04 to ensure success, named SEAL04-1 and SEAL04-2 respectively.
- SEAL04-1 chip’s latest verification demonstrated approximately 6-7 J/TH power efficiency at the chip level under low-voltage, ultra-power-saving mode. Targeting mass production in Q1 2026. This chip achieved improvements in overall yield and power efficiency compared to SEAL03.
- SEAL04-2 chip’s development continues.
- U.S. Manufacturing: Preparations for Bitdeer’s U.S. factory remain in progress.
- GPU Cloud as of 12/31/2025:
| GPU Amount Deployed | GPU Types | Utilization Rate | Under external subscription | ARR |
| 1,152 | H100, H200, B200 | 538 | ~ | |
-
- 8 units of GB200 systems were deployed and tested in Malaysia in December. Potential customers have commenced the proof-of-concept (POC) validation. The cloud service is expected to be officially launched on our website (https://www.bitdeer.ai) in January 2026 to support broad customer demand.
- Actively evaluating U.S. data center leasing opportunities to deploy GPUs and bring AI cloud services online for U.S. customers as early as Q1 2026.
- Launched IAM and SSO capabilities in the cloud platform, providing centralized identity management, role-based access control, secure authentication, and seamless integration with identity providers. These capabilities help customers strengthen security posture, simplify IT administration, and meet compliance requirements to support scalable AI workloads.
- HPC colocation arrangements:
- Potential additional colocation arrangements for various sites are under evaluation. Multiple potential customers have expressed strong interest and active discussions are currently underway.
- Potential additional colocation arrangements for various sites are under evaluation. Multiple potential customers have expressed strong interest and active discussions are currently underway.
- Infrastructure Summary:
| Site / Location | Capacity (MW) | Status | Datacenter Type | Timing4 |
| Electrical capacity | ||||
| - Rockdale, Texas | 563 | Online | Crypto | Completed |
| - Knoxville, Tennessee – phase 1 | 37 | Online | Crypto converting to AI | Q4 2026 |
| - Knoxville, Tennessee – phase 2 | 49 | Online | Crypto | Completed |
| - Wenatchee, Washington | 13 | Online | Crypto converting to AI | Q4 2026 |
| - Molde, Norway | 84 | Online | Crypto | Completed |
| - Tydal - 1, Norway | 50 | Online | Crypto | Completed |
| - Tydal - 2, Norway | 175 | Online | Crypto converting to AI | Q4 2026 |
| - Gedu, Bhutan | 100 | Online | Crypto | Completed |
| - Jigmeling, Bhutan | 500 | Online | Crypto | Completed |
| - Oromia Region, Ethiopia | 40 | Online | Crypto | Completed |
| - Massillon, Ohio | 47 | Online | Crypto | Completed |
| Total electrical capacity | 1,6585 | |||
| Pipeline capacity | ||||
| - Oromia Region, Ethiopia | 20 | In progress | Crypto | Q1 2026 |
| - Massillon, Ohio | 148/26 | In progress | Crypto | Q2 2026/TBD |
| - Clarington, Ohio | 570 | In progress | HPC/AI | Q2 2027 |
| - Niles, Ohio | 300 | In progress | HPC/AI | Q4 2028 |
| - Rockdale, Texas | 179 | In planning | Crypto | Estimate 2026 |
| - Alberta, Canada | 101 | In planning | Crypto | Q2 2027 |
| Total pipeline capacity | 1,344 | |||
| Total global electrical capacity | 3,002 | |||
- Production and Operations Summary:
| Metrics | December 2025 | November 2025 | December 2024 |
| Total hash rate under management1 (EH/s) | 71.0 | 60.3 | 21.6 |
| - Proprietary hash rate | 58.0 | 47.3 | 8.9 |
| • Self-mining | 55.2 | 45.7 | 8.5 |
| • Cloud Hash Rate | 1.1 | 1.1 | 0.0 |
| • Delivered but not yet energized | 1.7 | 0.5 | 0.4 |
| - Hosting | 13.0 | 13.0 | 12.7 |
| Mining rigs under management | 293,000 | 264,000 | 175,000 |
| - Self-owned2 | 211,000 | 182,000 | 85,000 |
| - Hosted | 82,000 | 82,000 | 90,000 |
| Bitcoins mined (self-mining only) | 636 | 526 | 145 |
| Bitcoin held3 | 2,017 | 2,179 | 594 |
1 Total hash rate under management as of December 31, 2025 across Bitdeer’s primary business lines: Self-mining, Cloud Hash Rate, and Hosting.
- Self-mining refers to cryptocurrency mining for Bitdeer’s own account, which allows it to directly capture the high appreciation potential of cryptocurrency.
- Cloud Hash Rate offers hash rate subscription plans and shares mining income with customers under certain arrangements. The Cloud Hash Rate stated above reflects the contracted hash rate with customers at month-end.
- Hosting encompasses a one-stop mining machine hosting solution including deployment, maintenance, and management services for efficient cryptocurrency mining.
2 Self-owned mining machines are for Bitdeer’s self-mining business and Cloud Hash Rate business.
3 Bitcoins held do not include the Bitcoins from deposits of the customers, include the Bitcoins that are pledged as collateral.
Management Commentary
"SEALMINER mass production continues to accelerate the expansion of our self-mining operations, driving more than a fourfold increase in Bitcoin production year over year, and a
Infrastructure Construction Update
Tydal, Norway AI data center conversion – Planning and design continue to advance. Orders for critical long-lead equipment have been placed to support the targeted project timeline for completion around the end of 2026.
Wenatchee, Washington – AI data center conversion is underway. Design of the data center was signed off in December 2025. Completion targeted for Q4 2026.
Knoxville, Tennessee – Phase 1 AI data center conversion design work initiated, targeting to complete by Q4 2026.
Massillon, Ohio –47 MW is currently online. The energization of approximately 26 MW in two fire-damaged buildings has been postponed, with a revised timeline to be determined following further site assessment. The remaining 148 MW is expected to be energized in phases during Q2 2026.
Clarington, Ohio – 570 MW of power under contract with local utility, expected to be available by end of Q3 2026. Design and other preparation work for the Clarington AI data center continues.
Fox Creek, Alberta – 101 MW site acquired, fully licensed and permitted for the construction of an on-site natural gas power plant. We have revised the design scheme for the mining site to accommodate future AIDC requirements, as the energization date has been rescheduled for Q2 2027.
Oromia Region, Ethiopia – Construction of the 60 MW site has been completed, with 20 MW not yet energized and 40 MW undergoing energization in phases according to SEALMINER deliveries.
Niles, Ohio – 300 MW grid-interconnected development site, with target energization date of Q4 2028. The project includes 41.8 acres of owned land and a transmission line extension agreement with a local utility company.
Upcoming Conferences and Events
- January 13 – 16, 2026: 28th Annual Needham Growth Conference in New York
- March 2 – 5, 2026: Morgan Stanley Technology, Media & Telecom Conference in San Francisco
- March 10 – 11, 2026: 2026 Cantor Global Technology & Industrial Growth Conference in New York
- March 22 – 24, 2026: 38th Annual Roth Conference in Laguna Niguel, CA
About Bitdeer Technologies Group
Bitdeer is a world-leading technology company for Bitcoin mining and AI cloud. Bitdeer is committed to providing comprehensive Bitcoin mining solutions for its customers. Bitdeer handles complex processes involved in computing such as equipment procurement, transport logistics, data center design and construction, equipment management, and daily operations. Bitdeer also offers advanced cloud capabilities to customers with high demand for artificial intelligence. Headquartered in Singapore, Bitdeer has deployed data centers 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
ICR Inc.
John Ragozzino, CFA
bitdeer.ir@icrinc.com
Media
Elev8 New Media
Jessica Starman, MBA
bitdeer@elev8newmedia.com
Public Relations
BlocksBridge Consulting
Nishant Sharma
bitdeer@blocksbridge.com
FAQ
How many Bitcoins did Bitdeer (BTDR) mine in December 2025?
What was Bitdeer's self-mining hashrate as of Dec 31, 2025 (BTDR)?
What is Bitdeer's total hash rate under management (BTDR) as of Dec 2025?
How large is Bitdeer's GPU cloud and ARR as of Dec 31, 2025 (BTDR)?
What infrastructure capacity does Bitdeer (BTDR) report and timing for AI conversions?
Did Bitdeer report any site delays or postponed energization in the Dec 2025 update (BTDR)?
