Bitdeer Bets on U.S. Expansion to Outmaneuver Tariff Challenges and Fuel AI Ambitions

Bitdeer Technologies Group (NASDAQ: BTDR), a leading Bitcoin mining company, has announced its plans to expand manufacturing of mining rigs in the United States amid growing challenges posed by U.S. tariff policies under the Trump administration. This strategic pivot comes as the company continues to navigate a complex financial landscape while aiming to enhance its competitive edge through innovation and infrastructure development.

For the second quarter of 2025, Bitdeer reported total revenue of $155.6 million, marking a 56.8% year-over-year increase and a 121.9% sequential growth. This surge was primarily driven by the company’s self-mining operations and the external sales of its SEALMINER A2s, which contributed $69.5 million to total revenue. Despite these gains, the company posted a net loss of $147.7 million, attributed largely to non-cash losses from derivative liabilities and other financial obligations. Adjusted EBITDA for the period stood at $17.3 million, slightly down from the previous quarter but showing resilience in a volatile market.

The company is targeting a self-mining hash rate of 40 exahash (EH/s) by the end of October 2025, with expectations to exceed this benchmark by year-end. This growth is underpinned by wafer supply improvements at its foundry and ongoing capacity expansions at its global data centers. Bitdeer has energized 361 MW of datacenter capacity for self-mining, bringing its total available electrical capacity to approximately 1.3 gigawatts (GW), with plans to surpass 1.6 GW by the year’s conclusion.

Bitdeer’s R&D efforts are intensifying, with a focus on the development of the SEALMINER A4 project. The company aims to achieve a groundbreaking chip efficiency of approximately 5 joules per terahash (J/TH) at the chip level, significantly improving upon its current offerings. In July 2025, the firm made key progress in the development of customized silicon software and expanded its U.S. engineering team to support the SEAL04 chip. These advancements, combined with the performance of the SEALMINER A3, are expected to solidify Bitdeer’s position as a top supplier of energy-efficient mining rigs.

In tandem with its technological ambitions, Bitdeer is also advancing its high-performance computing (HPC) and artificial intelligence (AI) initiatives. The company has entered into advanced negotiations with a development partner for its Clarington, Ohio site, which will play a pivotal role in its HPC/AI strategy. A Letter of Agreement with AEP Ohio for the second phase of Clarington’s development has been signed, advancing the final stages of the full 570 MW capacity. This site, coupled with Bitdeer’s global infrastructure, is expected to provide a scalable platform for future growth.

Bitdeer’s financial strategy involves a careful balance between capital expenditures and revenue generation. The company reported $299.8 million in cash and cash equivalents as of June 30, 2025, alongside $169.3 million in cryptocurrencies. Despite significant capital outflows for operating activities—driven by payments for SEALMINER wafers and production costs—the firm generated $431.5 million in net cash from financing activities, primarily through convertible senior notes and borrowings from a related party. This liquidity position supports Bitdeer’s ambitious infrastructure plans and ongoing R&D commitments.

The expansion of Bitdeer’s U.S. operations is not merely a strategic business move but also a response to the evolving regulatory environment. Tariff policies and supply chain constraints have prompted the company to localize more of its manufacturing and infrastructure. By strengthening its presence in the U.S. and investing in high-efficiency mining technologies, Bitdeer aims to mitigate external risks while positioning itself for long-term growth in a rapidly changing market.

Source: [1] Bitdeer Reports Unaudited Financial Results for the Second Quarter 2025 (https://ir.bitdeer.com/news-releases/news-release-details/bitdeer-reports-unaudited-financial-results-second-quarter-2025/) [2] Bitdeer Technologies Group (BTDR) Q2 2025 Earnings Call (https://finance.yahoo.com/news/bitdeer-technologies-group-btdr-q2-070340313.html)