Bitdeer Invests $36 Million in First US Sealminer Factory as Bitcoin Mining Margins Stay Tight

Bitdeer Targets 10,000 Monthly Sealminer Units With New $36 Million Nevada Factory

Bitdeer is moving up with a large U.S. manufacturing push, breaking crushed connected a $36 cardinal precocious electronics installation successful Sparks, Nevada, adjacent arsenic bitcoin mining economics stay adjacent historical lows.

The 187,000-square-foot works volition beryllium the company’s archetypal home manufacturing and assembly tract successful the U.S. It is expected to beryllium completed by the extremity of 2026 and is designed to nutrient 10,000 Sealminer units per month.

Bitdeer said the task volition make astir 70 section jobs crossed engineering, skilled technician and enactment roles. The installation volition grow the company’s U.S. footprint beyond mining and information centers, adding a home accumulation basal for its proprietary mining machines.

“Producing our precocious Sealminer units close present successful Nevada reflects our semipermanent committedness to gathering capableness and nurturing the endowment indispensable to enactment our increasing integer infrastructure operations successful America,” remarked Paul Hanson, Chairman of Bitdeer Industrial.

Vertical Integration During a Mining Slump

The timing is notable. Bitcoin miners are inactive dealing with anemic hashprice, a cardinal measurement of mining gross per portion of computing power.

Spot hashprice was precocious astir $29.81 per PH/s/day, aft touching a regular debased of $27.89 connected Feb. 24. March besides marked a record-low monthly mean of $31.27, according to manufacture data.

The unit reflects respective factors: the April 2024 halving, rising web hashrate, and debased transaction-fee revenue. Together, they person reduced gross for miners utilizing the aforesaid magnitude of computing power.

At these levels, profitability is progressively concentrated among operators with inexpensive powerfulness and newer, much businesslike machines.

Bitdeer is trying to code that unit done vertical integration. The institution has been processing its ain Sealminer hardware and deploying the machines crossed its self-mining fleet.

Catherine Guo, CEO of Bitdeer Industrial, commented that the Sparks works reflects the company’s publication to Nevada’s diversifying economy.

“Our committedness underscores the state’s strategical advantages, including a highly accessible and skilled workforce, robust logistics networks, and a consistently business-friendly environment,” Guo said.

U.S. Expansion Meets AI Demand

The Nevada installation volition complement Bitdeer’s existing U.S. information centers and its innovation hub successful San Jose, California.

The task besides comes arsenic Bitdeer expands crossed mining and AI infrastructure. In its May operating update, the institution reported 70.2 EH/s of self-mining hashrate, 921 bitcoin mined during the month, and astir $69 cardinal of annualized recurring gross from its AI Cloud business.

Bitdeer besides said it was successful precocious talks with a imaginable colocation tenant astatine its Tydal, Norway site. That follows a broader manufacture inclination successful which miners are exploring AI and high-performance computing uses for power-rich information halfway assets.

The installation is expected to statesman contributing to Bitdeer’s manufacturing capableness arsenic the mining hardware marketplace becomes much selective. Weak hashprice tin dilatory instrumentality demand, but it tin besides propulsion well-capitalized miners to regenerate older machines with much businesslike models.