Mining company Bitdeer is currently in talks with private lenders for an additional injection of $100 million. Bloomberg reported from inside sources that the funds received will be used to expand production capacity.
In addition, the cryptocurrency mining company announced plans to increase its overall #hashrate by 3.4 EH/s. This ambitious goal will be achieved by introducing its own mining equipment - #Sealminer A1.
We are thrilled to announce our mining expansion with SEALMINER mining machines. We will install the cutting-edge SEALMINER A1 miners in our datacenters in the United States and Norway in Q3 and Q4 2024 to accomplish this initial 3.4 EH/s expansion, boosting our proprietary hash… pic.twitter.com/4QQnuSYude
— Bitdeer (@BitdeerOfficial) March 26, 2024
According to the official announcement, Sealminer A1 units will be deployed at Bitdeer's facilities in the US and Norway in Q3 and Q4 of 2024. With the increased capacity, the company's total hash rate is expected to rise to 11.8 EH/s.
In addition, Bitdeer aims to increase this to 46 EH/s by the end of 2025.
Linhui Kong, Bitdeer's Chief Commercial Officer, expressed confidence in the capabilities of the Sealminer A1 and expects to significantly improve fleet efficiency by utilizing its own hardware. The company's commitment is evidenced by the fact that this #mining hardware is installed in its facilities.
Bitdeer, owned by Chinese tycoon Jihan Wu, is a prominent player in the US mining sector. According to media reports, if the bitcoin miner is successful in raising investment, it will join Ascend Wellness Holdings and Superior Industries International, which also chose direct lending for further funding.
In April 2023, #Bitdeer Technologies made an initial public offering on the #NASDAQ exchange. At the same time, Benchmark noted the undervaluation of Bitdeer Technologies shares.
