Bitdeer doubles down on Bitcoin self-mining as rig demand cools

8 hours ago

Bitdeer Technologies Group (BTDR), a Bitcoin mining and infrastructure company, is ramping up its self-mining operations amid weakening request for mining rigs — highlighting however immoderate hardware makers are shifting strategies to enactment competitory during the existent Bitcoin bull market.

According to an Oct. 9 Bloomberg report, Bitdeer is accelerating its pivot toward mining Bitcoin (BTC) connected its ain equipment, efficaciously competing with the aforesaid clients that acquisition its rigs.

The study cited Bitdeer’s latest filings showing a large year-over-year enlargement of its mining capableness successful August and its stated extremity of becoming 1 of the world’s apical 5 Bitcoin miners.

Bitdeer appears to beryllium nearing that target. The institution mined 375 BTC successful August, ranking sixth globally down MARA Holdings (MARA), IREN (IREN), Cango (CANG), CleanSpark (CLSK) and Riot Platforms (RIOT), according to manufacture data.

Industry work The Miner Mag precocious noted a broader inclination among hardware manufacturers seeking to offset subdued rig income by monetizing their ain mining capacity. Both Canaan and Bitdeer were cited arsenic examples, with Bitdeer astir tripling its proprietary hashrate to 22.5 exahashes per 2nd betwixt December 2024 and July 2025.

“In some cases, surplus inventory that erstwhile would person been shipped to customers is present being deployed in-house,” The Miner Mag wrote successful its Miner Weekly newsletter connected Sept. 4.

Wolfie Zhao, an expert astatine The Miner Mag, told Bloomberg that helium expects “large miners to stay cautious connected fleet enlargement for the foreseeable future.”

Bitcoin miners proceed to diversify adjacent arsenic BTC terms hits caller all-time highs

As Bitcoin continues its record-breaking bull run, recently surpassing $126,000, mining economics person grown progressively challenging, peculiarly pursuing the 2024 halving that chopped artifact rewards successful half.

In response, respective mining companies are diversifying their concern models, deploying hardware toward caller workloads specified arsenic artificial quality and information halfway infrastructure. Recent examples see Hive Digital, IREN and TeraWulf, which person expanded into AI hosting oregon high-performance computing services.

Meanwhile, Bitcoin’s web difficulty — a measurement of however hard it is to excavation caller blocks — continues to ascent to caller all-time highs, extending a semipermanent inclination that has tightened margins and operating conditions for large miners.

With AI compute request surging and large tech companies pledging hundreds of billions of dollars successful caller information halfway investments, miners are uncovering caller opportunities by repurposing oregon upgrading existing facilities to service that market.

As Cointelegraph explained, immoderate miners are besides leasing excess capableness to AI companies, creating a much unchangeable gross watercourse during periods of crypto terms volatility.