EX-99.1 2 ea026118901ex99-1_bitdeer.htm PRESS RELEASE - BITDEER ANNOUNCES SEPTEMBER 2025 PRODUCTION AND OPERATIONS UPDATE

Exhibit 99.1

 

Bitdeer Announces September 2025 Production and Operations Update

 

- Expanding and accelerating HPC/AI strategy across multiple initiatives

- Received confirmation from Clarington, Ohio power utility that all 570 MW of electrical capacity will be available by end of Q3 2026

- Increased self-mining hashrate to 35.0 EH/s on continued deployment of SEALMINERs

- Launched and commenced mass production of SEALMINER A3 series

- Tydal, Norway and Jigmeling, Bhutan sites energization completed

- New power pipeline of 300 MW in Niles, Ohio officially launched in September

- First design of SEAL04 chips taped out and initial testing demonstrated sub-10 J/TH efficiency

 

SINGAPORE, October 14, 2025 (GLOBE NEWSWIRE) -- Bitdeer Technologies Group (NASDAQ: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for Bitcoin mining, today announced its unaudited mining and operations updates for September 2025.

 

Operational Update

 

Self-mining: 452 Bitcoins mined, an increase of ~20.5% from August 2025 due to higher average self-mining hashrate from energization of SEALMINERs. 35.0 EH/s deployed. On track to reach 40 EH/s at the end of October. After October, Bitdeer will continue deploying SEALMINER mining rigs for self-mining and concurrently begin retiring all third-party, older-generation rigs to further enhance profitability and fleet efficiency.

 

Mining Rig Manufacturing and R&D:

 

oSEALMINER A2:

 

oTotal of 34.2 EH/s in mining rigs have been manufactured and an additional 2.8 EH/s are in final assembly as of end of September 2025.

 

oOf the 34.2 EH/s mining rigs that have been manufactured:

 

External-sales: 6.1 EH/s of mining rigs have been shipped to external customers, including 0.1 EH/s that were shipped in September.

 

Self-mining:

 

22.6 EH/s of mining rigs have been deployed in U.S., Tydal, Norway and Jigmeling, Bhutan, including 4.6 EH/s in September 2025.

 

5.5 EH/s of mining rigs are in-transit to Bitdeer’s sites in Norway and Bhutan.

 

oSEALMINER A3:

 

oLaunched in September, the A3 series includes four models:

 

Two air-cooling models A3 Air and A3 Pro Air, achieving a power efficiency of 12.5 J/TH ~ 14 J/TH and a hashrate of 260 TH/s ~ 290 TH/s.

 

Two hydro-cooling models A3 Hydro and A3 Pro Hydro, reaching a power efficiency of 12.5 J/TH ~ 13.5 J/TH and a hashrate of 500 TH/s ~ 660 TH/s.

 

Commenced mass production and expect initial deliveries/shipments in October 2025 for self-mining.

 

 

 

oSEALMINER A4:

 

oPlanning two different chip designs of SEAL04 to ensure success.

 

oThe first SEAL04 chip tape out was completed in September and are currently under testing. Initial results from the early samples demonstrated sub-10 J/TH power efficiency at the chip level, though still above the 5 J/TH target.

 

oAwaiting further sample testing to verify the feasibility of achieving the 5 J/TH chip-level power efficiency goal on the first SEAL04. Nevertheless, Bitdeer is now confident that the first SEAL04 chip is ready for mass production and will deliver significant power efficiency improvements.

 

oThe SEAL04 with the new architecture is still expected to reach a target chip level efficiency of 5 J/TH.

 

oU.S. Manufacturing: Bitdeer’s U.S. factory is actively in planning and preparation.

 

HPC/AI:

 

oAs of September, Bitdeer allowed its LOI (Letter of Intent) with its development partner to expire in order to significantly expand its direct role in the HPC/AI data center market. In conjunction, Bitdeer has initiated design and layout planning for the Clarington, Ohio site. The new data center will be suitable for Bitcoin mining, with core infrastructure designed from the start to enable easy conversion into an AI data center with redundancy and other critical design elements to ensure flexibility and scalability.

 

oActively recruiting US based in-house experts across multiple AI data center disciplines.

 

oHPC/AI priority remains Clarington, Ohio, where the local utility has confirmed that the full 570 MW will be available by the end of Q3 2026—nearly a year earlier than prior expectations. Teams are targeting substation energization in the first half of 2027.

 

oBitdeer also plans to convert its 175 MW Tydal Phase 2 site into an AI data center with expected completion date of Q4 2026. This site is expected to support 164 MW of key IT load after applying various security redundancy considerations. During the conversion process, mining operations will be minimally impacted, as the Tydal, Phase 2 design had already incorporated potential conversion from Bitcoin mining to an AI data center. The capital expenditure required for this conversion will be significantly lower than the average cost of constructing a new AI data center in the U.S or Norway.

 

oBitdeer is also working on converting its Wenatchee 13 MW site into an AI data center with modular data center technology.

 

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oBitdeer is also sourcing data center resources in Southeast Asia, either through rental arrangements or self-built facilities. By the end of 2026, Bitdeer expects to operate more than 200 MW of IT load dedicated to AI computing, the majority of which will be owned by Bitdeer. Bitdeer plans to pursue two business models in parallel or in combination — colocation services and AI factory operations.

 

oBitdeer sees sustained imbalance between the growing demand and limited supply of AI computing power, and expects it to extend through 2027. In the most optimistic scenario, Bitdeer plans to acquire GPUs for cloud deployment and convert the entire 200 MW of IT load into an AI factory, potentially generating an annualized revenue run-rate (ARR) exceeding US$2 billion at the end of 2026.

 

oBitdeer.AI, Bitdeer’s neo cloud business, reached US$8 million AI cloud ARR in September from providing GPU cloud services, with significant growth expected in the remaining three months of 2025. Cloud services has 584 GPUs as of September 2025, of which 501 GPUs are under subscribed, with a utilization rate of approximately 86%. The un-utilized GPUs are B200 GPUs, which were newly installed at the end of September, and are being tested by customers. Bitdeer anticipates full deployment of 1,160 GPUs by year-end.

 

oBitdeer is concurrently securing procurement agreements for NVIDIA’s next-generation GB300 and B300 systems.

 

Infrastructure:

 

oTydal, Norway (Hydro): All 175 MW is energized.

 

oJigmeling, Bhutan: All 500 MW is energized.

 

oNiles, Ohio: Officially launched 300 MW grid-interconnected site in Niles, Ohio with a target energization date of Q1 2029.

 

oIncludes 41.8 acres of owned land and an interconnection agreement with FirstEnergy.

 

oLocated approximately 1 hour away from existing Massillon Ohio site and 2 hours away from Clarington Ohio site.

 

oTotal global power pipeline: Increased to 3 GW.

 

Management Commentary

 

“In September, we allowed our LOI with our development partner to expire,” said Matt Kong, Chief Business Officer at Bitdeer. “While we remain free to collaborate with this partner in the future, we have chosen to significantly expand our direct role in the HPC/AI data center market. Our expanded initiatives include negotiating directly with potential tenants, building relationships with EPCs specializing in data centers, developing proprietary AI data centers and hiring in-house experts across multiple AI data center disciplines. In parallel, we are accelerating the development of additional sites for HPC/AI data centers at our Clarington, Tydal, and Wenatchee sites. This push is driven by a marked increase in inbound interest in our power assets, which has become a strong catalyst for expanding our efforts.”

 

Mr. Kong continued, “Our ASICs and self-mining operational team continued to execute. In September, our first SEAL04 chip tape out was completed and initial testing demonstrates significant efficiency improvements compared to existing chips. Further, we successfully launched our SEALMINER A3 series with our Pro versions boasting a power efficiency of 12.5 J/TH. Mass production began in September and initial shipments are expected in October. In addition, our self-mining hashrate grew to 35 EH/s and remain on track to achieve 40 EH/s by end of October. Over the coming quarters, we will continue expanding our SEALMINER fleet into our near-term global power capacity, putting us on track to become one of the largest vertically integrated miners in the world.”

 

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Production and Operations Summary

 

Metrics  September
2025
   August
2025
   September
2024
 
Total hash rate under management1 (EH/s)   49.2    44.2    17.1 
- Proprietary hash rate   35.0    30.3    8.6 
● Self-mining   35.0    30.0    8.1 
● Cloud Hash Rate   -    -    0.5 
● Delivered but not hashing   -    0.3    - 
- Hosting   14.2    13.9    8.5 
Mining rigs under management   241,000    229,000    167,000 
- Self-owned2   153,000    143,000    87,000 
- Hosted   88,000    86,000    78,000 
Bitcoins mined (self-mining only)   452    375    164 
Bitcoin held3   2,029    1,934    258 

 

1Total hash rate under management as of September 30, 2025 across Bitdeer’s primary business lines: Self-mining, Cloud Hash Rate, and Hosting.

 

Self-mining refers to cryptocurrency mining for Bitdeer’s own account, which allows it to directly capture the high appreciation potential of cryptocurrency.

 

Cloud Hash Rate offers hash rate subscription plans and shares mining income with customers under certain arrangements. The Cloud Hash Rate stated above reflects the contracted hash rate with customers at month-end.

 

Hosting encompasses a one-stop mining machine hosting solution including deployment, maintenance, and management services for efficient cryptocurrency mining.

 

2Self-owned mining machines are for Bitdeer’s self-mining business and Cloud Hash Rate business.

 

3Bitcoins held do not include the Bitcoins from deposits of the customers, include the Bitcoins that are pledged as collateral.

 

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Infrastructure Construction Update

 

Site / Location  Capacity (MW)   Status  Timing4
Electrical capacity          
- Rockdale, Texas   563   Online  Completed
- Knoxville, Tennessee   86   Online  Completed
- Wenatchee, Washington   13   Online  Completed
- Molde, Norway   84   Online  Completed
- Tydal, Norway   225   Online  Completed
- Gedu, Bhutan   100   Online  Completed
- Jigmeling, Bhutan   500   Online  Completed
Total electrical capacity   1,5715       
Pipeline capacity           
- Massillon, Ohio   221   In progress  Q1 2026
- Clarington, Ohio   570   In progress  Q2 2027
- Niles, Ohio   300   In progress  Q1 2029
- Rockdale, Texas   179   In planning  Estimate 2026
- Alberta, Canada   101   In planning  Q4 2026
- Oromia Region, Ethiopia   50   In progress  Q4 2025
Total pipeline capacity   1,421       
Total global electrical capacity   2,992       

 

4Indicative timing for completion of power and data center infrastructure. All timing references are to calendar quarters and years.

 

5Figures represent total available electrical capacity.

 

Rockdale, Texas – 100 MW Hydro-cooling conversion has been fully energized.

 

Tydal, Norway175 MW site’s construction work has been completed.

 

Energization in accordance with the phase of delivery of mining rigs.

 

Massillon, Ohio – 221 MW site is under construction and the full energization timeline expected in Q1 2026:

 

21 MW is expected to be energized by the end of October 2025. 

 

The remaining 200 MW is expected to be energized in phases by the end of Q1 2026.

 

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Clarington, Ohio – 570 MW under contract with local utility and will be available by end of Q3 2026. Power and data center infrastructure to be completed in Q2 2027.

 

Jigmeling, Bhutan – 500 MW site’s construction work has been completed.

 

Energization in accordance with the phase of delivery of mining rigs.

 

Fox Creek, Alberta – 101 MW site acquired in Alberta, is fully licensed and permitted to construct an on-site natural gas power plant. The project is expected to be energized by the end of Q4 2026.

 

Oromia Region, Ethiopia – SPA and a turnkey agreement signed for the acquisition and construction of a 50 MW Bitcoin mining project in Ethiopia. The project is expected to be energized in Q4 2025.

 

Niles, Ohio – 300 MW grid-interconnected development site with a target energization date of Q1 2029 set by FirstEnergy.

 

Includes 41.8 acres of owned land and an interconnection agreement with FirstEnergy.

 

Former Niles Generating Station that was demolished in 2013.

 

Located approximately 1 hour away from existing Massillon Ohio site and 2 hours away from Clarington Ohio site.

 

Upcoming Conferences and Events

 

oNovember 10 – 12, 2025: Cantor Crypto, AI/Energy Infrastructure Conference in Miami

 

oDecember 4, 2025: B. Riley Securities Convergence Conference in New York

 

oDecember 16, 2025: Northland Growth Virtual Conference 2025

 

oJanuary 13 – 16, 2026: 28th Annual Needham Growth Conference in New York

 

About Bitdeer Technologies Group

 

Bitdeer is a world-leading technology company for Bitcoin mining. Bitdeer is committed to providing comprehensive Bitcoin mining solutions for its customers. Bitdeer handles complex processes involved in computing such as equipment procurement, transport logistics, data center design and construction, equipment management, and daily operations. Bitdeer also offers advanced cloud capabilities to customers with high demand for artificial intelligence. Headquartered in Singapore, Bitdeer has deployed data centers in the United States, Norway, and Bhutan. To learn more, visit https://ir.bitdeer.com/ or follow Bitdeer on X @ BitdeerOfficial and LinkedIn @ Bitdeer Group.

 

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Investors and others should note that Bitdeer may announce material information using its website and/or on its accounts on social media platforms, including X, formerly known as Twitter, Facebook, and LinkedIn. Therefore, Bitdeer encourages investors and others to review the information it posts on the social media and other communication channels listed on its website.

 

Forward-Looking Statements

 

Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. The words “anticipate,” “look forward to,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including factors discussed in the section entitled “Risk Factors” in Bitdeer’s annual report on Form 20-F, as well as discussions of potential risks, uncertainties, and other important factors in Bitdeer’s subsequent filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof. Bitdeer specifically disclaims any obligation to update any forward-looking statement, whether due to new information, future events, or otherwise. Readers should not rely upon the information on this page as current or accurate after its publication date.

 

For investor and media inquiries, please contact:

 

Investor Relations

Orange Group

Yujia Zhai

bitdeerIR@orangegroupadvisors.com

 

Media

Elev8 New Media

Jessica Starman, MBA

bitdeer@elev8newmedia.com

 

Public Relations

BlocksBridge Consulting

Nishant Sharma

bitdeer@blocksbridge.com

 

 

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