Bitdeer jumps 14% on $36M Nevada factory for SEALMINER rigs

Bitdeer Technologies Group rose 14% to $14.33 after announcing a $36 million manufacturing facility in Sparks, Nevada, to produce its SEALMINER Bitcoin mining machines.

Producing SEALMINER units in Nevada reflects Bitdeer's long-term commitment to expanding capacity for its U.S. digital infrastructure operations, Paul Hanson, chairman of Bitdeer Industrial, said.

The 187,000-square-foot facility is expected to be completed by the end of 2026 and produce as many as 10,000 SEALMINER rigs each month, creating about 70 jobs. The company mined 921 Bitcoin in May, a 370% increase from a year earlier, as its self-mining hashrate reached 70.2 EH/s.

The expansion comes as hash price, a key revenue measure for miners, remains near record-low levels at about $29.81 per PH/s per day following the April 2024 halving. Bitdeer's push into domestic manufacturing reduces its reliance on third-party hardware suppliers at a time when power efficiency has become central to mining profitability.

Bitdeer CEO Catherine Guo said the Singapore-based company worked with Nevada Governor Joe Lombardo's administration to secure tax incentives, including a reduction in qualifying sales taxes, as part of the decision to establish operations in the state. The Sparks site will complement Bitdeer's existing U.S. data centers and its innovation hub in San Jose, California.

The company has also expanded into AI cloud services, reporting about $69 million in annualized recurring revenue from its AI Cloud business. Bitdeer is in advanced negotiations for a potential colocation tenant at its Tydal, Norway, site. The Nevada facility places manufacturing inside a broader strategy that spans proprietary hardware development, self-mining operations and AI infrastructure — a model that could help Bitdeer navigate compressed mining margins while diversifying its revenue base.

This article is for informational purposes only and does not constitute investment advice.