Bitdeer Bets Big on Bitcoin Mining as Crypto Market Cools and Tariff Turmoil Grows

Nasdaq-listed Bitcoin mining firm Bitdeer Technologies Group is ramping up its self-mining operations and advancing U.S.-based manufacturing plans as it navigates a cooling crypto market and escalating trade policy uncertainty.

The company, which is headquartered in Singapore and operates one of the world’s largest mining facilities in Texas, is adapting to a new landscape where selling mining rigs has become less viable.

Bitdeer Shifts Focus to Self-Mining, Moves Away from Equipment Sales

Jeff LaBerge, Bitdeer’s head of capital markets and strategic initiatives, told Bloomberg the firm will prioritize using its own rigs for Bitcoin mining instead of selling them to external clients.

“Our plan going forward is to prioritize our own self-mining,” LaBerge said, signaling a shift in strategy as the market for mining equipment softens.

This comes at a time when Bitcoin mining profitability is under pressure.

The hashprice—a measure of revenue per unit of mining power—has dropped to near record lows, following last year’s halving event that cut miner rewards in half.

Bitcoin mining hashrate is rapidly approaching 1 zettahash. pic.twitter.com/ZS0SkkidXb

— Pierre Rochard (@BitcoinPierre) April 6, 2025

Simultaneously, U.S. President Donald Trump’s tariff policies have disrupted mining rig supply chains, many of which rely on assembly in China and Southeast Asia.

Bitdeer plans to capitalize on Trump’s recently announced 90-day tariff pause to ship mining rigs from Southeast Asia to the U.S.

However, some clients have delayed accepting delivery of pre-ordered rigs, prompting Bitdeer to redirect those units to its operations in Bhutan and Norway.

The company is also preparing to launch U.S.-based manufacturing later this year as part of a longer-term strategy to localize production and reduce exposure to supply chain shocks.

This move mirrors efforts by Bitmain Technologies Ltd., the world’s largest mining rig manufacturer, which launched a U.S. production line last year. Bitdeer founder Jihan Wu is also a co-founder of Bitmain.

“This is something we’ve been planning for a long time,” LaBerge noted. “We want to bring jobs and manufacturing back to America.”

Bitdeer Plans to Triple Bitcoin Mining Capacity by 2026

Bitdeer currently operates approximately 900 megawatts of global capacity and aims to expand to 2.6 gigawatts by 2026.

It’s also pushing into new markets including Canada and Ethiopia, while diversifying into artificial intelligence and high-performance computing, two areas where its large-scale data centers in Texas and Ohio could play a pivotal role.

While the specialized chips used in Bitcoin mining—produced by Taiwan’s TSMC—are currently exempt from U.S. tariffs, LaBerge said the company is preparing for potential cost increases.

“The entire industry is trying to get clarity on how these tariffs might apply,” he said. “We’re modeling for higher costs just in case.”

Earlier this year, Bitdee also invested $4 million in Bitcoin, purchasing 50 BTC at an average price of $81,475 per Bitcoin.

In the last two months, Bitcoin mining company Bitdeer, increased its BTC holdings by 75%.

This is how the Singaporean company became one of the most notable Bitcoin miners (and recovered from a $500 million loss):

Bitdeer Technologies, a Singapore-based mining company, made… pic.twitter.com/2MkljOPPNs

— Super (@SuperDuperCycle) March 17, 2025

More recently, the firm announced the successful testing of its latest Bitcoin mining chip, SEAL03, following tape-out.

The company’s latest chip achieved its performance target the SEALMINER technology roadmap outlines it.

“An exceptional power efficiency ratio of 9.7J/TH – while running at low voltage, ultra power-saving mode – was indicated in the SEAL03 chip’s verification and prototype tests,” the team claims.