Bitdeer Announces January 2026 Production and Operations Update

Rhea-AI Summary

Bitdeer (NASDAQ: BTDR) reported January 2026 operational results: 668 Bitcoins mined (≈430% YoY) and self-mining hashrate 63.2 EH/s. Total hash rate under management reached 78.1 EH/s and proprietary deployed hash rate was 65.1 EH/s. GPU cloud deployed 1,792 GPUs with ARR ~$10 million. SEALMINER R&D taped out the SEAL-DL1 Litecoin/Doge ASIC with initial tests exceeding expectations and a planned Q1 2026 launch. Infrastructure pipeline totals 3,002 MW global electrical capacity with 1,344 MW pipeline capacity; U.S. factory lease signed and Malaysia GB200 NVL72 deployment underway.

Positive

• Bitcoins mined +430% YoY to 668 BTC
• Self-mining hashrate +14% month-over-month to 63.2 EH/s
• Total hash rate under management rose to 78.1 EH/s
• GPU cloud ARR approximately $10 million from 1,792 GPUs
• SEAL-DL1 taped out with initial tests exceeding expectations

Negative

• Bitcoin held declined ~24% to 1,530 BTC versus December 2025
• Delivered but not energized proprietary rigs at 0.8 EH/s could delay near-term output
• Massillon rebuild required for ~26 MW in fire-damaged buildings before full energization
• Clarington timing may be affected by ongoing legal proceedings, risking schedule uncertainty

Key Figures

Bitcoins mined (Jan 2026): 668 Bitcoin Bitcoin production YoY change: 430% Self-mining hashrate: 63.2 EH/s +5 more

8 metrics

Bitcoins mined (Jan 2026) 668 Bitcoin Self-mining, January 2026; ≈430% year-over-year increase

Bitcoin production YoY change 430% Year-over-year increase in self-mined Bitcoin for January

Self-mining hashrate 63.2 EH/s Self-mining hashrate reached in January 2026

Total hash rate under management 78.1 EH/s Across business lines as of January 31, 2026

Mining rigs under management 314,000 Total rigs under management as of January 2026

GPUs deployed 1,792 H100, H200, B200, GB200 under GPU cloud as of 1/31/2026

GPU cloud ARR ~$10 million Annual recurring revenue under external subscription as of 1/31/2026

Total global electrical capacity 3,002 MW Combined online and pipeline power capacity across all sites

Market Reality Check

Price: $12.20 Vol: Volume 3,158,757 is below...

low vol

$12.20 Last Close

Volume Volume 3,158,757 is below 20-day average 6,447,173 (relative volume 0.49). low

Technical Price 13.27 is trading below the 200-day MA at 14.28 and 52% under the 27.80 52-week high.

Peers on Argus

BTDR gained 5.4% while close peers showed mixed, mostly modest moves (e.g., GRND...

1 Up

BTDR gained 5.4% while close peers showed mixed, mostly modest moves (e.g., GRND up 3.24%, AGYS down 0.63%). Only one sector stock (RNG) appeared on the momentum scanner, so today’s move appears stock-specific rather than a broad software rotation.

Historical Context

5 past events · Latest: Feb 04 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 04	Earnings call notice	Neutral	-3.7%	Scheduled Q4 2025 earnings call and webcast for February 12, 2026.
Jan 12	Monthly ops update	Positive	+6.6%	December 2025 update showing 636 BTC self-mined and 55.2 EH/s hashrate.
Dec 15	Monthly ops update	Positive	-7.5%	November 2025 report with 526 BTC self-mined and 45.7 EH/s hashrate.
Nov 13	Equity offering	Negative	-20.3%	Registered direct offering of 10,661,140 Class A shares and notes financing.
Nov 13	Debt offering	Negative	-20.3%	Pricing of US$400.0M 4.00% convertible senior notes due 2031.

Pattern Detected

Operational updates have produced mixed reactions, while capital-raising announcements were followed by sharp declines, indicating sensitivity to financing news.

Recent Company History

Over the past few months, Bitdeer has balanced rapid operational scaling with significant capital markets activity. Monthly updates in November 2025 and December 2025 highlighted strong growth in self-mining hashrate, Bitcoin production, and AI/GPU buildout, with market reactions varying between gains and selloffs. In November 2025, sizeable equity and convertible notes offerings coincided with a steep negative move, underscoring dilution concerns. The current January 2026 update extends the trajectory of rising hashrate, AI capacity, and global power footprint.

Market Pulse Summary

This announcement details continued scaling in Bitdeer’s core Bitcoin mining and AI infrastructure b...

Analysis

This announcement details continued scaling in Bitdeer’s core Bitcoin mining and AI infrastructure businesses. January 2026 self-mining reached 668 BTC with hashrate at 63.2 EH/s, while GPU cloud capacity grew to 1,792 GPUs and ARR of ~$10 million. The company now manages 3,002 MW of global electrical capacity. Recent history shows both growth-oriented monthly updates and sizable financings, so investors may watch future capital structure moves, energization timelines, and AI utilization rates closely.

Key Terms

hashrate, asic, gpu, arr, +3 more

7 terms

hashrate technical

"Increased self-mining hashrate to 63.2 EH/s on continued deployment"

Hashrate is a measure of how quickly a computer network can process and verify transactions, often expressed as the number of calculations it can perform in a second. Think of it like the engine power of a car; the higher the hashrate, the more work the network can do in a given time. For investors, a higher hashrate generally indicates a more secure and robust network, which can influence confidence and the value of related digital assets.

asic technical

"Successfully taped out the Litecoin ASIC chip, SEAL-DL1, designed"

ASIC is Australia’s corporate, markets and financial services regulator that enforces rules for companies, financial advisers and market operators; think of it as the referee and rulebook keeper for financial activity. It matters to investors because ASIC’s oversight, investigations and enforcement actions affect company credibility, legal risk and market fairness—actions that can change stock prices, investor confidence and the safety of financial products.

gpu technical

"GPU Cloud as of 1/31/2026:"

A GPU (graphics processing unit) is a specialized computer chip designed to handle many calculations at once, originally for rendering images and video but now widely used for tasks like artificial intelligence, data analysis and high-performance computing. Investors watch GPU demand and prices because strong sales often signal growth for chip makers and their customers, affect profit margins and capital spending, and can forecast wider trends in gaming, AI adoption and cloud services.

arr financial

"Under External Subscription | ARR"

ARR, or Annual Recurring Revenue, is the predictable income a business expects to earn each year from ongoing customer subscriptions or contracts. It’s like a steady paycheck that shows the company's ability to generate consistent revenue over time, helping investors assess its stability and growth potential. ARR provides a clear picture of how well a company is performing in building long-term customer relationships.

convertible senior notes financial

"4.00% convertible senior notes due 2031 with estimated net proceeds"

Convertible senior notes are a type of loan that a company issues to investors, which can be turned into company shares later on. They are called "senior" because they are paid back before other debts if the company runs into trouble. This allows investors to earn interest like a loan but also have the chance to own part of the company if its value rises.

at-the-market equity program financial

"to reduce its at‑the‑market equity program to up to US$750,000,000"

An at-the-market equity program lets a company sell newly issued shares directly into the open market at the current trading price through a broker, rather than in a single, prearranged block. It provides flexible, on-demand access to cash—like drawing small amounts from a credit line—but increases the number of shares outstanding, which can reduce existing shareholders’ ownership percentage and put downward pressure on the stock price, so investors monitor program size and pacing.

datacenter technical

"power and data center infrastructure. All timing references are"

A datacenter is a secure facility that houses rows of computers, storage devices and networking equipment that store, process and move large volumes of digital information — like a bank vault and power plant combined for internet services. It matters to investors because datacenters are capital‑intensive infrastructure that generate recurring fees from cloud, software and finance customers, and their reliability, energy costs and location can directly affect a company’s revenue stability, profit margins and growth prospects.

AI-generated analysis. Not financial advice.

      Monthly Highlights
      Increased self-mining hashrate to 63.2 EH/s on continued deployment of SEALMINERs
      Bitcoin production increased 430% year over year to 668 Bitcoin
      Launch of NVIDIA GB200 NVL72 infrastructure in Malaysia
      First design of Litecoin chip taped out and initial testing surpassed expectations
        
SINGAPORE, Feb. 10, 2026 (GLOBE NEWSWIRE) -- Bitdeer Technologies Group (NASDAQ: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for Bitcoin mining and AI infrastructure, today announced its unaudited mining and operations updates for January 2026.

Operational Update

• Self-mining: 
  • Mined 668 Bitcoins, an increase of approximately 430% year over year.
  • Self-mining hashrate reached 63.2 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.

• SEALMINER Manufacturing:
  
  

Mining Rig Model (EH/s)	Stage	January 2026	December 2025
SEALMINER A3	In final assembly	3.8	0.6
	In transit	0.4	2.5
	Cumulative A3 Deployed	8.7	5.9
SEALMINER A2	In final assembly	2.9	1.8
	Ready for shipping	0.1	0.1
	In transit	2.6	3.4
	Cumulative A2 external sales	8.1	7.9
	Cumulative A2 Deployed	44.1	39.7
SEALMINER A1	Cumulative A1 Deployed	4.2	4.2
3rd Party Miners	Cumulative Deployed	8.1	8.2
Total Proprietary Hash Rate	Deployed	65.1	58.0

• SEALMINER R&D:
  • Successfully taped out the Litecoin ASIC chip, SEAL-DL1, designed for mining DOGE and Litecoin. Initial test results of SEAL-DL1 have exceeded expectations.
  • SEALMINER DL1 is expected to generate more mining output compared to the SEALMINER A2 series with the same power capacity based on the recent market parameters. We plan to launch the product in Q1 2026.
  • SEALMINER 04-1 is targeting mass production in Q1 2026.
  • SEAL04-2 chip’s development continues.
    
    
• U.S. Manufacturing: Preparations for Bitdeer’s U.S. factory are progressing, with the lease signed and construction permit application submitted to local municipal authorities.
  
  
• GPU Cloud as of 1/31/2026:
  
  

GPU Amount Deployed	GPU Types	Utilization Rate	Under External Subscription	ARR
1,792	H100, H200, B200, GB200	41%	585	~$10 million

• • On January 13, 2026, Bitdeer AI deployed its initial NVIDIA GB200 NVL72 infrastructure in Malaysia, marking the first phase of an accelerated capacity expansion designed to support enterprise-grade training workloads on the Blackwell architecture.
  • 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.

• HPC colocation arrangements:
  • Potential colocation arrangements for various sites are under evaluation. Multiple potential hyperscaler customers have expressed strong interest, and active discussions are currently underway.

• Infrastructure Summary:
  
  

Site / Location	Capacity (MW)	Status	Datacenter Type	Timing1
Electrical capacity
- Rockdale, Texas	563	Online	Crypto / Evaluating AI	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 converting to AI	Q4 2026
- 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	1,6582
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	To be updated
- 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

¹ Indicative timing for completion of power and data center infrastructure. All timing references are to calendar quarters and years.
² Figures represent total available electrical capacity

• Production and Operations Summary:
  
  

Metrics	January 2026	December 2025	January 2025
Total hash rate under management3 (EH/s)	78.1	71.0	22.4
- Proprietary hash rate	65.1	58.0	9.2
• Self-mining	63.2	55.2	8.7
• Cloud Hash Rate	1.1	1.1	-
• Delivered but not yet energized	0.8	1.7	0.5
- Hosting	13.0	13.0	13.2
Mining rigs under management	314,000	293,000	179,000
- Self-owned4	232,000	211,000	87,000
- Hosted	82,000	82,000	92,000
Bitcoins mined (self-mining only)	668	636	126
Bitcoin held5	1,530	2,017	724

³ Total hash rate under management as of January 31, 2026 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.
  

⁴ Self-owned mining machines are for Bitdeer’s self-mining business and Cloud Hash Rate business.
⁵ Bitcoins held do not include the Bitcoins from deposits of the customers, include the Bitcoins that are pledged as collateral.

Management Commentary

"Bitdeer has increased its focus on HPC/AI co-location opportunities for several of its larger sites including, but not limited to, Tydal, Norway. This is a high priority for us and the goal is to sign long term leases for these locations as soon as possible,” said Matt Kong, Chief Business Officer of Bitdeer. “In parallel, our self-mining hashrate continues to grow and has exceeded 63 EH/s, a 14% increase over December 2025, and we will continue to deploy more Sealminers in 2026. Furthermore, we have successfully tested our first LTC/Doge miner, the DL1, and its performance exceeded expectations. We plan to officially release the SEALMINER-DL1 in the first quarter of 2026.”

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. Decommissioning of Bitcoin mining rigs has begun to make room for the new AI data center.

Wenatchee, Washington – AI data center design documents and building permit application were submitted for approval. Orders for long-lead-time equipment have been placed. 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. Approximately 26 MW in two fire-damaged buildings is expected to be rebuilt and energized by the end of September 2026. The remaining 148 MW is expected to be energized in phases during Q1 and Q2 2026.

Clarington, Ohio – 570 MW of power under contract with a local utility. The timing of power availability and construction may be affected by ongoing legal proceedings filed by a neighboring company, American Heavy Plate Solutions, LLC. Design and other preparation work continue.

Fox Creek, Alberta – 101 MW site acquired, fully licensed and permitted for the construction of an on-site natural gas power plant. We are assessing current design schemes for the mining site to accommodate potential future AIDC requirements, as the energization date has been targeted 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 driven by SEALMINER deliveries.  

Niles, Ohio – 300 MW grid-interconnected development site, with target energization in 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

• 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: 38^th Annual Roth Conference in Laguna Niguel, CA
  

About Bitdeer Technologies Group

Bitdeer is a world-leading technology company for Bitcoin mining and AI infrastructure. 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, amongst other countries. 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 BTDR mine in January 2026 and how large was the YoY change?

Bitdeer mined 668 Bitcoins in January 2026, about a 430% year-over-year increase. According to the company, this reflects higher self-mining output from increased SEALMINER deployments and higher proprietary hashrate.

What is Bitdeer’s self-mining hashrate (EH/s) as of January 31, 2026 and recent trend?

Self-mining hashrate was 63.2 EH/s as of January 31, 2026, up 14% month-over-month. According to the company, continued deployment of SEALMINER rigs drove the increase and retirement of older third-party rigs is ongoing.

What GPU infrastructure and revenue run-rate did BTDR report for its GPU cloud as of 1/31/2026?

Bitdeer deployed 1,792 GPUs with a utilization rate of 41% and ARR of about $10 million. According to the company, initial GB200 NVL72 infrastructure was deployed in Malaysia to support enterprise AI workloads.

When will the SEALMINER-DL1 Litecoin/Doge ASIC launch and what were test results?

The SEALMINER-DL1 is planned for a Q1 2026 launch, and initial testing exceeded expectations. According to the company, DL1 is expected to outperform A2-series output at equivalent power under recent market parameters.

What is Bitdeer’s total electrical capacity and pipeline capacity as reported in January 2026?

Total global electrical capacity was reported at 3,002 MW with a pipeline capacity of 1,344 MW. According to the company, figures include both online sites and projects in progress across multiple countries.

Are there any operational risks or site timing issues investors should note for BTDR?

Yes. Clarington timing may be affected by legal proceedings and Massillon requires rebuilding for ~26 MW before full energization. According to the company, these issues could affect project timelines and capacity ramp schedules.