Bitdeer secures $60M to boost Bitcoin ASIC production amid record hashrate

Quick Summary:

The shift came in response to cooling demand for its mining hardware from other miners.“Our plan going forward is to prioritize our own self-mining,” Jeff LaBerge, Bitdeer’s head of capital markets and strategic initiatives, reportedly said. Additionally, on Feb.28, 2025, Bitdeer launched a $20 million share repurchase program, effective through February 2026.

Related: Top Bitcoin miners produced nearly $800M of BTC in Q1 2025Bitdeer acquires 101 MW Alberta power projectIn February 2025, Bitdeer acquired a fully licensed 101 megawatt (MW) gas-fired power project near Fox Creek, Alberta, for $21.7 million in cash, per the annual filing.

Related: American Bitcoin’s ambition is to dominate mining — Hut 8 CEOBitcoin hashrate surges while miner revenues shrinkBitdeer’s expansion comes as Bitcoin’s network computing power hit a record 1 sextillion hashes per second in early April, according to BitInfoCharts.Bitcoin hashrate.

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Article Details

Author / Journalist: Cointelegraph by Amin Haqshanas

Category: Crypto

Markets: United States

Topics: Production Mining Self-mining Hashrate According Bitdeer Million Loan Bitdeer’s April Bitcoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-22 @ 14:56:04 (1 weeks ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 486 words

Reading Time: 3 minutes read

Sentences: 23 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 28151376

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Main Topics: Crypto

Official Website: cointelegraph.com

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