Bitdeer increases self-mining hashrate by 21% in June

SINGAPORE - Bitdeer Technologies Group (NASDAQ:BTDR), a Bitcoin mining technology company with a market capitalization of $2.49 billion, increased its self-mining hashrate by 21% to 16.5 EH/s in June 2025, according to the company’s latest operational update released Wednesday. According to InvestingPro analysis, the stock is currently trading above its Fair Value.

The Bitcoin mining technology company mined 203 Bitcoins in June, representing a 4% increase from May 2025, attributed to higher average self-mining hashrate from the deployment of its SEALMINER systems. The company maintains a healthy liquidity position with a current ratio of 1.37, though InvestingPro data indicates the company is quickly burning through cash.

Bitdeer reported significant progress with its SEALMINER product line. The company has manufactured 14.9 EH/s of SEALMINER A2 mining rigs, with 5.3 EH/s shipped to external customers and 4.6 EH/s deployed for self-mining operations in the U.S., Norway, and Bhutan. The SEALMINER A3 series is in final testing stages and approaching mass production.

"We remain on track to reach 40 EH/s by the end of October 2025," said Matt Kong, Chief Business Officer at Bitdeer, in the press release statement.

The company also announced its inclusion in the Russell 2000® and Russell 3000® indexes as of June 30, 2025, as part of the annual Russell indexes reconstitution.

On the infrastructure front, Bitdeer has 1,098 MW of electrical capacity online across multiple global locations. The company continues to develop additional sites, including expansions in Norway, Ohio, Bhutan, and Ethiopia, with a pipeline capacity of 1,592 MW.

In June, Bitdeer closed a $375 million private placement of 4.875% Convertible Senior Notes due 2031. The company held 1,502 Bitcoins as of June 30, 2025.

Bitdeer is also advancing its high-performance computing and AI initiatives, expanding serverless GPU infrastructure and introducing Agent cloud service capabilities.

In other recent news, Bitdeer Technologies Group announced a $330 million offering of 4.875% convertible senior notes due in 2031, which will fund infrastructure growth and mining rig development. The company expects net proceeds of approximately $319.6 million, with the potential to increase to $363.3 million if additional notes are purchased. Bitdeer plans to use part of these proceeds for a zero-strike call option transaction and to exchange its existing 8.50% convertible senior notes due 2029. BTIG has reiterated its Buy rating for Bitdeer, citing the company’s mining expansion plans as a positive indicator. The company aims to increase its self-mining capacity to approximately 40 EH later this year, which would represent a significant growth from its current capacity. Bitdeer also intends to explore high-performance computing colocation opportunities at its Clarington, Ohio site. The convertible bond issuance will support these initiatives, with a focus on maximizing profitability through Bitcoin mining. The offering is expected to close on June 23, 2025.

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