Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Exhibit 99.1
Bitdeer Announces January 2026 Production and
Operations Update
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, February 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
| ○ | 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 | |
| ○ | 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. |
| 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: 38th 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
