Cryptocurrency mining company a bit I recently secured funding $60 million With the aim of expanding production ASIC for Bitcoin Mining and strengthening Self-mining operation.
This happens when competition in the sector is getting more and more intense. This investment is in the context of where it is Bitcoin Network Hash Rates It has reached unprecedented levels and is putting pressure on miners’ profit margins.
Funding was secured through a loan agreement Matrixportaffiliated companies established by Jihan Woothe current chairman of Bitdeer.
Credit line 200 million dollarsfixed with its own hardware Seal miner Includes variable interest rates 9%in addition to market benchmarks.
As of April 21st, Bitdeer was already drawn $43 million From this trust line.
Bitdeer: Capital injection to enhance ASIC production in Bitcoin mining
The new funding will be added to a series of financial operations already undertaken by Bitdeer in 2024.
In January, the company acquired it $17 million unsecured loan. Meanwhile, it was sourced during the year $572.5 million Through Convertible bonds.
Additionally, it was published 6 million sharesI’ll almost grow it $119 million From the bull and bear market.
These financial moves demonstrate a clear intention to consolidate positions in the mining sector. Even when profitability is being tested rigorously by external factors such as increased or decreased hashrate Transaction fees.
In February 2025, Bitdeer acquired the Energy Project 101 megawatts (MW) in Fox Creekin Alberta. For all these values $21.7 million In cash.
Sites with all the permissions required for construction are connected to the grid 99 MW And the possibility of expanding 1 gigawatt.
The power plant is EPC It is expected to be operational by partners Q4 of 2026.
I also bought Bitdeer in March. 40 MW of Flow Cooling Mining Container from exposurefurther strengthening its infrastructure.
In response to declining hardware demand from other industry operators, Bitdeer has decided to focus critically Self-mining and Internal production In the US.
According to Jeff Rubbergethe strategic initiatives of the capital market heads and the company, future priorities are precisely the expansion of the mining business directly managed by Bitdeer.
This strategic choice aims to reduce reliance on hardware sales and increase direct control over Bitcoin production in a situation where competition between miners is constantly growing.
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Stock buyback program
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Additional signals of financial solidity and confidence in its future are Stock buyback program of $20 million. It was released on February 28, 2025 Valid until February 2026.
So far, Bitdeer has bought back 1,056,500 Class A stockfor the total value of about $12 million.
Bitdeer extension is Bitcoin Network Hash Rates I have reached the record of 1 second hash per second According to data from April bitinfocharts.
This data shows an increase in the overall computing power of the network due to new miners input or adoption of more powerful machines.
However, a higher hashrate also leads to greater competition to unlock blocks. Therefore, it reduces the chances of success for individual miners, and as a result, Overall profitability.
In addition to growing competition, miners must face another obstacle: Low transaction fees.
Currently, the average fee for a Bitcoin transaction is 1 dollar. Therefore, it is significantly lower than that $16 According to data from the previous year, it was recorded in April YCHARTS.
This combination of High hashrate and Low price They were forced to sell to many public miners. 40% of BTC production In March. In other words, it’s the highest level since the end of 2024.
Including some companies Hive, Bit Farmand Aeon Digitaland sells more 100% of monthly production. This is a clear indication of the economic difficulties the sector is experiencing.
Bitdeer is preparing for the future of mining
Despite the challenges, Bitdeer is actively positioned to tackle the future of Bitcoin mining.
With its focus on solid financial foundations, target investments in energy infrastructure and self-employment, the company appears to be intended to integrate its leadership role in the sector.
In an evolving environment where operational efficiency and access to low-cost energy is becoming increasingly important, Bitdia aims to turn market difficulties into opportunities for growth.
