{"id":5683,"date":"2025-04-22T16:49:34","date_gmt":"2025-04-22T18:49:34","guid":{"rendered":"https:\/\/criptonizando.com\/en\/?p=5683"},"modified":"2025-04-22T16:49:35","modified_gmt":"2025-04-22T18:49:35","slug":"bitdeer-bitcoin-asic-expansion-hashrate-miner-revenue-drop","status":"publish","type":"post","link":"https:\/\/criptonizando.com\/en\/news\/bitdeer-bitcoin-asic-expansion-hashrate-miner-revenue-drop\/","title":{"rendered":"Bitdeer Secures $60M to Accelerate Bitcoin ASIC Manufacturing Amid Soaring Hashrates"},"content":{"rendered":"\n<p>Bitcoin <a href=\"https:\/\/criptonizando.com\/en\/news\/australias-asic-sues-binance-for-misclassifying-retail-investors\/\">ASIC<\/a> manufacturer Bitdeer has secured a $60 million loan to boost its hardware production as mining competition rises with record network hashrates.<\/p>\n\n\n\n<p>According to its annual report, Bitdeer signed a financing deal in April with Matrixport, a crypto financial firm founded by Bitdeer\u2019s chairman, Jihan Wu. The agreement provides up to $200 million, backed by Bitdeer\u2019s Sealminer hardware, with a floating interest rate of 9% plus market benchmarks. By April 21, Bitdeer had drawn $43 million from the facility.<\/p>\n\n\n\n<p>This follows a $17 million unsecured loan in January and $572.5 million raised via convertible notes earlier in 2024. Bitdeer also raised nearly $119 million through the issuance of over six million shares.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Bitdeer Secures Alberta Power Project and Expands Self-Mining Operations<\/strong><\/h2>\n\n\n\n<p>In February 2025, Bitdeer acquired a fully permitted 101 MW gas-powered facility near Fox Creek, Alberta, for $21.7 million in cash, according to its latest annual report. The site includes a 99 MW grid interconnection and all required construction approvals, with plans to scale the project up to 1 gigawatt in the future. Bitdeer is developing the facility alongside an EPC partner, targeting operational readiness by Q4 2026.<\/p>\n\n\n\n<p>In March, Bitdeer strengthened its mining infrastructure with the purchase of 40 MW worth of liquid-cooled containers from Saiheat.<\/p>\n\n\n\n<p>Amid a slowdown in third-party hardware demand, Bitdeer is shifting its focus toward internal mining operations and expanding its production footprint in the U.S. \u201cOur strategy now centers on ramping up our own self-mining,\u201d said Jeff LaBerge, head of capital markets and strategic initiatives.<\/p>\n\n\n\n<p>The company also initiated a $20 million stock buyback program on February 28, 2025, set to run through February 2026. So far, Bitdeer has repurchased over 1.05 million Class A shares, totaling around $12 million.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Bitcoin Hashrate Hits Record High, But Miners Struggle as Profits Plunge<\/strong><\/h2>\n\n\n\n<p>Bitcoin\u2019s network <a href=\"https:\/\/www.investopedia.com\/hash-rate-6746261\" rel=\"nofollow\">hashrate<\/a> reached a record 1 sextillion hashes per second in early April, according to data from BitInfoCharts. This spike signals a surge in mining activity, with more miners or increasingly powerful Bitcoin ASIC machines joining the network.<\/p>\n\n\n\n<p>However, this rising competition has led to reduced profitability per miner. As more computing power floods the system, individual chances of earning block rewards shrink.<\/p>\n\n\n\n<p>Adding to the pressure are considerably low transaction fees. The average Bitcoin fee is currently around $1, significantly lower than the $16 average recorded in April 2024, per YCharts.<\/p>\n\n\n\n<p>As a result, public mining companies have been offloading their holdings at a rapid pace. In March, miners sold more than 40% of their BTC production\u2014the highest monthly sell-off since late 2024. Companies like Hive, Bitfarms, and Ionic Digital reportedly sold more than 100% of their mined Bitcoin during that month.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin ASIC manufacturer Bitdeer has secured a $60 million loan to boost its hardware production as mining competition rises with record network hashrates. According to its annual report, Bitdeer signed a financing deal in April with Matrixport, a crypto financial firm founded by Bitdeer\u2019s chairman, Jihan Wu. The agreement provides up to $200 million, backed [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":5684,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tpgb_global_settings":"","kia_subtitle":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-5683","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitdeer Secures $60M to Accelerate Bitcoin ASIC Manufacturing Amid Soaring Hashrates - Criptonizando<\/title>\n<meta name=\"description\" content=\"Bitdeer secures $60M to expand Bitcoin ASIC manufacturing and acquires a 101 MW Alberta power project as hashrates hit record highs\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/criptonizando.com\/en\/news\/bitdeer-bitcoin-asic-expansion-hashrate-miner-revenue-drop\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitdeer Secures $60M to Accelerate Bitcoin ASIC Manufacturing Amid Soaring Hashrates - 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Our \u2018News\u2019 category brings you up-to-date insights, market trends, and breaking stories from the digital finance world.","parent":0,"count":536,"filter":"raw"}],"post_tag":false},"author_name":"Syed Waleed","author_url":"https:\/\/criptonizando.com\/en\/author\/waleed\/","author_email":"waleed.ahmed@moveup.media","author_website":"https:\/\/medium.com\/@syedmuhammadwaleed71","author_description":"I\u2019m a dedicated crypto and Web3 copywriter with a knack for transforming complex blockchain concepts into engaging, easy-to-understand content.   I specialize in creating insightful articles, market analysis, and persuasive copy that captures attention and drives results. 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