Bitdeer Announces Updates to March 2024 Operations

April 4, 2024 by No Comments

SINGAPORE, April 04, 2024 — Bitdeer Technologies Group (NASDAQ: BTDR) (“Bitdeer” or the “Company”), a leading technology company for blockchain and high-performance computing, today provided its unaudited mining and operations updates for March 2024. Linghui Kong, Chief Business Officer of Bitdeer, commented, “During the month of March, we carried out our core operations and laid the foundation to drive the long-term growth of our business, most notably by announcing a plan to expand our self-mining hash rate by approximately 3.4 EH/s by the end of 2024. We intend to achieve this by installing our own SEALMINER A1 machines at our mining datacenters in Rockdale, Texas, U.S.A., and in Norway. Several similar expansions for our mining hash rate are expected to follow in subsequent quarters until the end of 2025.” “We mined 294 Bitcoins in total during March, representing an increase of 2.4% from last month. As we previously announced, our self-mining operations at our Gedu datacenter experienced curtailment during the first quarter due to seasonally higher electricity prices. However, we have secured a price of approximately $0.0425 per kWh for the Gedu datacenter for the remainder of the year starting on April 1, 2024. With this electricity price in place, we are currently maintaining stable operations with lower costs at our Gedu datacenter.” “On the AI cloud service front, we completed the deployment and testing of our NVIDIA DGX SuperPOD H100 system. We successfully met our target deployment deadline, establishing ourselves as one of the first providers of the NVIDIA DGX SuperPOD H100 service within Asia. On the infrastructure front, we commenced construction during March of a 500MW datacenter in Jigmeling, Bhutan. At this stage, we have committed to the construction of a substation at the site and have begun ground leveling work, and we anticipate the site becoming operational around the middle of 2025. We also continued to make progress in the construction of our 221MW datacenter in Ohio, United States, and our 175MW immersion cooling datacenter at our mining facility in Tydal, Norway. Both the Ohio datacenter and the Tydal datacenter are expected to be completed by 2025.” The Company primarily operates three distinct business lines: Self-mining refers to cryptocurrency mining for the Company’s own account, which allows it to directly capture the high appreciation potential of cryptocurrency.Hash Rate Sharing currently primarily includes Cloud Hash Rate, in which the Company offers hash rate subscription plans and shares mining income with customers under certain arrangements.Hosting encompasses a one-stop mining machine hosting solution including deployment, maintenance, and management services for efficient cryptocurrency mining. Operations Update MetricsMarch 2024February 2024March 2023Total hash rate under management1 (EH/s)22.522.018.3- Proprietary hash rate28.48.45.7- Self-mining6.76.73.9- Cloud Hash Rate1.71.71.8- Hosting14.113.6