Bitdeer Announces July 2024 Production And Operations Update; Self Mined 181 Bitcoin; Remains On Track To Deploy 3.4 EH/s Of SEALMINER ASICs For Self-Mining By Year-End

Author: Benzinga Newsdesk | August 05, 2024 08:19am

- Engaged TLM Group, a leading consultant in HPC/AI datacenter engineering and construction, to accelerate monetization of Bitdeer's 2.5 GW power portfolio

- Remains on track to deploy 3.4 EH/s of SEALMINER ASICs for self-mining by year-end

SINGAPORE, Aug. 05, 2024 (GLOBE NEWSWIRE) -- Bitdeer Technologies Group (NASDAQ:BTDR) ("Bitdeer" or the "Company"), a world-leading technology company for blockchain and high-performance computing, today announced its unaudited mining and operations updates for July 2024.

Operational Highlights

• Self-mined Bitcoin: Mined 181 Bitcoins.
• Mining Rigs R&D:
  • Mass production is on track for SEAL01 chips and SEALMINER A1 series mining rigs, including both air cooling and hydro cooling.
  • Taiwan Semiconductor Manufacturing Company (TSMC)'s delivery of SEAL02 initial tape-out wafers is anticipated for late September 2024. If the testing is successful, mass production is scheduled to commence by the end of 2024.
  • R&D of SEAL03, our third-generation chip, is ongoing.
• HPC/AI:
  • AI cloud services powered by NVIDIA DGX SuperPOD with H100 system reached 100% utilization during the month of July. We will expand our AI cloud operation carefully to capture the opportunities while avoiding over investment.
  • Engaged with TLM Group, a leading consultant in HPC/AI datacenter engineering and construction, to conduct comprehensive research on Bitdeer's sites and advise on a broader datacenter strategy, including co-location, joint-ventures and other monetization options.
• Mining datacenters
  • Tydal, Norway phase 1 and phase 2 site expansions remain on track to energize 40 MW in Q4 2024 and 135 MW by mid-2025.
  • Bhutan Jigmeling 500MW substation is expected to be completed by Q1 2025.
  • We commenced upgrading a portion of the Rockdale, Texas mining datacenter into hydro cooling, which we expect to be complete in Q4 2024. We believe such investment will not only benefit our Bitcoin mining business but also can be used for HPC/AI infrastructure in the future.
  • Ohio Edison 221MW project is in the design and long lead time equipment procurement stage.
  • Planning to deploy 3.4 EH/s of first generation Bitdeer SEALMINERs into Texas, U.S.A. and Tydal, Norway sites in Q4 2024, bringing total proprietary hashrate to 11.8 EH/s.

Posted In: BTDR