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Investing.com -- Bitdeer Technologies Group (NASDAQ:BTDR) stock surged 21.2% in premarket trading Wednesday after the Bitcoin mining company announced an expansion of its high-performance computing (HPC) and artificial intelligence strategy alongside operational improvements.
The company reported mining 452 Bitcoins in September, representing a 20.5% increase from August due to higher self-mining hashrate. Bitdeer has increased its self-mining hashrate to 35.0 EH/s with the deployment of its proprietary SEALMINER rigs and remains on track to reach 40 EH/s by the end of October.
Bitdeer has significantly expanded its direct role in the HPC/AI data center market after allowing its Letter of Intent with a development partner to expire. The company received confirmation from its Clarington, Ohio power utility that all 570 MW of electrical capacity will be available by the end of Q3 2026, nearly a year earlier than previously expected.
"Our expanded initiatives include negotiating directly with potential tenants, building relationships with EPCs specializing in data centers, developing proprietary AI data centers and hiring in-house experts across multiple AI data center disciplines," said Matt Kong, Chief Business Officer at Bitdeer.
The company also launched its SEALMINER A3 series in September, with mass production already underway and initial shipments expected in October. Additionally, Bitdeer completed the first design tape-out of its SEAL04 chips, with initial testing demonstrating sub-10 J/TH efficiency.
Bitdeer has completed energization at its Tydal, Norway and Jigmeling, Bhutan sites, while also officially launching a new 300 MW power pipeline in Niles, Ohio in September. The company’s total global power pipeline has increased to 3 GW.
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