# Bitdeer

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{{Short description|Singapore cryptocurrency company}}
{{Infobox company
| name                = Bitdeer Technologies Group
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| founder             = [Jihan Wu](/source/Jihan_Wu)
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| key_people          = Jihan Wu ([Executive chairman](/source/Chair_(officer)), [CEO](/source/Chief_executive_officer))
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| revenue             = [S$](/source/Singapore_dollar)485,975,304
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'''Bitdeer Technologies Group''', or simply '''Bitdeer''', is a [cryptocurrency](/source/cryptocurrency) company and mining platform based in [Singapore](/source/Singapore). Spun off from the [bitcoin](/source/bitcoin)-mining chip producer [Bitmain](/source/Bitmain), Bitdeer is among the largest miners by computer power<ref name=":0">{{Cite web |last=Lee |first=Zinnia |title=Crypto Tycoon Jihan Wu's Mining Platform Bitdeer Gains 122% On Buybacks |url=https://www.forbes.com/sites/zinnialee/2023/06/26/crypto-tycoon-jihan-wus-mining-platform-bitdeer-gains-122-on-buybacks/ |access-date=2025-01-06 |website=[Forbes](/source/Forbes) |language=en}}</ref> and focuses on [blockchain](/source/blockchain) and [high-performance computing](/source/high-performance_computing).<ref name=":1">{{Cite news |title=Crypto mining firm Bitdeer partners Nvidia to launch AI cloud solutions |url=https://www.straitstimes.com/business/crypto-mining-firm-bitdeer-partners-nvidia-to-launch-ai-cloud-solutions |archive-url=https://web.archive.org/web/20231118235736/https://www.straitstimes.com/business/crypto-mining-firm-bitdeer-partners-nvidia-to-launch-ai-cloud-solutions |archive-date=2023-11-18 |access-date=2025-01-06 |work=[The Straits Times](/source/The_Straits_Times) |language=en |url-status=live }}</ref> Bitdeer's U.S. headquarters are located in [San Jose, California](/source/San_Jose%2C_California).<ref name=":4">{{Cite web |date=March 26, 2024 |title=Bitdeer pledges to build higher, stronger wall to reduce noise from cryptocurrency mining |url=https://www.indeonline.com/story/news/local/2024/03/26/bitdeer-leaders-again-meet-with-massillon-city-council-on-site-replat/73089838007/ |access-date=2025-01-15 |website=[The Independent](/source/The_Independent_(Massillon)) |publisher=Gannett |oclc=11129683}}</ref> The company also operates in other U.S. states as well as [Europe](/source/Europe) and [Bhutan](/source/Bhutan).<ref>{{cite web |date=2024-10-06 |title=Bitdeer Technologies (BTDR) Is Not Just a Bitcoin Mining Company |url=https://www.nasdaq.com/articles/bitdeer-technologies-btdr-not-just-bitcoin-mining-company |access-date=2025-12-30 |website=Nasdaq |publisher=Nasdaq, Inc.}}</ref>

== History ==
In January 2021,<ref name=":2">{{Cite web |last=Lee |first=Zinnia |title=Jihan Wu's Crypto Mining Platform Bitdeer to Go Public in $4 Billion SPAC Deal |url=https://www.forbes.com/sites/zinnialee/2021/11/19/jihan-wus-crypto-mining-platform-bitdeer-to-go-public-in-4-billion-spac-deal/ |access-date=2025-01-06 |website=Forbes |language=en}}</ref> Bitdeer was spun off from the [bitcoin](/source/bitcoin)-mining chip producer [Bitmain](/source/Bitmain),<ref name=":3">{{Cite web |date=November 18, 2021 |title=Crypto mining platform Bitdeer to go public through $4 bln SPAC merger |url=https://www.reuters.com/business/crypto-mining-platform-bitdeer-go-public-through-4-bln-spac-merger-2021-11-18/ |publisher=[Reuters](/source/Reuters) |first=Mehnaz |last=Yasmin}}</ref> which was co-founded by entrepreneur [Jihan Wu](/source/Jihan_Wu) in 2013. After the spin-off, Bitdeer established its headquarters in Singapore, where Wu resides.<ref>{{cite news |last1=Huang |first1=Zheping |title=TikTok Places ByteDance Founder Among China Moguls in Singapore |url=https://www.bloomberg.com/news/articles/2024-05-08/tiktok-places-bytedance-founder-among-china-moguls-in-singapore |publisher=[Bloomberg News](/source/Bloomberg_News) |date=May 8, 2024}}</ref> Wu is the [chief executive officer](/source/chief_executive_officer) and [executive chairman](/source/Chair_(officer)) of Bitdeer.<ref>{{cite news |title=Jihan Wu: Chief Executive Officer, Bitdeer Technologies Group |url=https://www.bloomberg.com/profile/person/19828310 |publisher=Bloomberg News}}</ref><ref name=":2" /><ref>{{cite news |title=Billionaire Crypto Pioneer Says Market Will Grow To Tens Of Trillions Of Dollars |url=https://www.forbesafrica.com/crypto/2022/01/03/billionaire-crypto-pioneer-says-market-will-grow-to-tens-of-trillions-of-dollars/ |work=Forbes |quote=Wu stepped away from Bitmain at the beginning of the year to focus on his role as chairman of two spinoffs which are both based in Singapore—Bitdeer Technologies, a cryptocurrency mining platform that’s already announced plans to list on the Nasdaq at a $4 billion valuation... |first1=Robert |last1=Olsen |first2=Zinnia |last2=Lee |archive-date=2024-01-22 |access-date=2025-02-07 |archive-url=https://web.archive.org/web/20240122190320/https://www.forbesafrica.com/crypto/2022/01/03/billionaire-crypto-pioneer-says-market-will-grow-to-tens-of-trillions-of-dollars/ |url-status=live }}</ref>

In November 2021, Bitdeer announced plans to merge with Blue Safari Group Acquisition Corp. and file an [initial public offering](/source/initial_public_offering).<ref name=":2" /><ref name=":3" /><ref>{{Cite news |date=November 18, 2021 |title=Jihan Wu's Bitcoin Mining Firm Seeks U.S. Listing in SPAC Deal |url=https://www.bloomberg.com/news/articles/2021-11-18/influential-bitcoin-miner-seeks-u-s-listing-through-spac-deal |publisher=Bloomberg News |first=Crystal |last=Kim |archive-date=2022-01-25 |access-date=2025-02-07 |archive-url=https://web.archive.org/web/20220125032044/https://www.bloomberg.com/news/articles/2021-11-18/influential-bitcoin-miner-seeks-u-s-listing-through-spac-deal |url-status=live }}</ref> After a delayed merger with the [special-purpose acquisition company](/source/special-purpose_acquisition_company), Bitdeer was listed on the [Nasdaq](/source/Nasdaq) in April 2023<ref>{{Cite news |title=Crypto Miner Bitdeer Makes Delayed SPAC Debut in Changed Market |url=https://www.bloomberg.com/news/articles/2023-04-14/crypto-miner-bitdeer-technologies-makes-delayed-spac-debut-with-blue-safari |publisher=Bloomberg News |date=April 14, 2023 |first=David |last=Pan}}</ref> at a valuation of $1.18 billion. In June 2023, Bitdeer announced plans to repurchase as much as $1 million worth of its stock.<ref name=":0" /> The company had 211 employees and earned [S$](/source/Singapore_dollar)485,975,304 in 2023.<ref>{{cite news |title=Singapore's fastest-growing companies 2025 |url=https://www.straitstimes.com/fastest-growing-companies-2025 |work=The Straits Times}}</ref>

In 2022, Bitdeer acquired the high-security storage facility [Le Freeport](/source/Le_Freeport) in Singapore for S$40 million ([US$](/source/United_States_dollar)28.4 million)<ref>{{Cite web |date=2022-09-20 |title=Chinese Crypto Tycoon-Backed Bitdeer Buys Asia's 'Fort Knox' |url=https://www.bloomberg.com/news/articles/2022-09-19/chinese-crypto-tycoon-backed-bitdeer-buys-asia-s-fort-knox |access-date=2025-01-07 |first1=Ranjeetha |last1=Pakiam |first2=Chanyaporn |last2=Chanjaroen |first3=Zheping |last3=Huang |publisher=Bloomberg News |language=en |archive-date=2023-11-08 |archive-url=https://web.archive.org/web/20231108163612/https://www.bloomberg.com/news/articles/2022-09-19/chinese-crypto-tycoon-backed-bitdeer-buys-asia-s-fort-knox |url-status=live }}</ref><ref>{{Cite web |last=Mattei |first=Shanti Escalante-De |date=2022-09-20 |title=Crypto Tycoon Buys Yves Bouvier's Maximum Security Freeport in Singapore |url=https://www.artnews.com/art-news/news/jihan-wu-yves-bouvier-freeport-singapore-1234639952/ |access-date=2025-01-07 |website=[ARTnews](/source/ARTnews) |language=en-US}}</ref> [Tether](/source/Tether_(cryptocurrency)) acquired a $100 million stake in Bitdeer in 2024.<ref>{{Cite web |title=Tether Acquires $100 Million Stake in US-Listed Bitcoin Miner Bitdeer |url=https://www.bloomberg.com/news/articles/2024-05-31/tether-acquires-100-million-stake-in-us-listed-bitcoin-miner-bitdeer |access-date=2025-01-06 |first=Emily |last=Nicolle |publisher=Bloomberg News |date=May 31, 2024}}</ref>

In November 2025, a fire broke out at the construction site of Bitdeer's [Massillon](/source/Massillon%2C_Ohio), Ohio cryptomine, damaging two buildings in the complex. The chief of Massillon Fire Department, Matt Heck, determined no signs of [arson](/source/arson) were determined<ref>{{Cite web |last=Russell |first=Laurence |date=2025-11-12 |title=Fire damages two buildings at Bitdeer’s Ohio Bitcoin mine construction site |url=https://www.datacenterdynamics.com/en/news/fire-damages-two-building-at-bitdeers-ohio-bitcoin-mine-construction-site/ |access-date=2025-12-27 |website=www.datacenterdynamics.com |language=en}}</ref>, though no cause was identified.<ref>{{Cite web |last=Mutuma |first=Maxwell |date=2025-11-12 |title=Massillon Fire Hits Bitdeer Bitcoin Mining Site: Cause Still Unknown |url=https://coincentral.com/massillon-fire-hits-bitdeer-bitcoin-mining-site-cause-still-unknown/ |access-date=2025-12-27 |website=CoinCentral |language=en-US}}</ref>

In April 2026, Bitdeer announced the SEALMINER A4 Bitcoin mining machines, using ships designed to improve energy efficiency and support large-scale mining operations.<ref>{{Cite web |date=2026-04-08 |title=Does Bitdeer (BTDR) Owning SEALMINER A4 Chip Design Quietly Shift Its Bitcoin Mining Moat? |url=https://simplywall.st/stocks/us/software/nasdaq-btdr/bitdeer-technologies-group/news/does-bitdeer-btdr-owning-sealminer-a4-chip-design-quietly-sh |access-date=2026-04-10 |website=simplywall.st}}</ref>

===Data centers and mining operations===
In 2022, Bitdeer sought to raise $200 million from outside investors to purchase discounted hardware.<ref>{{Cite web |last=Mason |first=Emily |title=Crypto Billionaire Jihan Wu Aims to Raise $200 Million to Purchase Assets from Struggling Bitcoin Miners |url=https://www.forbes.com/sites/emilymason/2022/09/28/crypto-billionaire-jihan-wu-aims-to-raise-200-million-to-purchase-assets-from-struggling-bitcoin-miners/ |access-date=2025-01-07 |website=Forbes |language=en |date=September 28, 2022 |archive-date=2023-05-19 |archive-url=https://web.archive.org/web/20230519180309/https://www.forbes.com/sites/emilymason/2022/09/28/crypto-billionaire-jihan-wu-aims-to-raise-200-million-to-purchase-assets-from-struggling-bitcoin-miners/ |url-status=live }}</ref><ref>{{Cite news |date=September 27, 2022 |title=Crypto Tycoon's Bitdeer Debuts Fund Targeting Distressed Miners |url=https://www.bloomberg.com/news/articles/2022-09-27/crypto-tycoon-s-bitdeer-debuts-fund-targeting-distressed-miners |publisher=Bloomberg News |first=David |last=Pan |archive-date=2023-07-24 |access-date=2025-02-07 |archive-url=https://web.archive.org/web/20230724011520/https://www.bloomberg.com/news/articles/2022-09-27/crypto-tycoon-s-bitdeer-debuts-fund-targeting-distressed-miners |url-status=live }}</ref>

In 2023, Bitdeer had five mining [data centers](/source/Data_center) in the U.S. and [Norway](/source/Norway).<ref name=":0" /> Bitdeer partnered with the government of [Bhutan](/source/Bhutan) in 2023 to increase mining capacity and create a fund of up to $500 million for green mining operations in the [Himalaya kingdom](/source/Himalaya_kingdom).<ref name=":0" /><ref>Bhutan:

*{{Cite news |title=Bhutan to Upgrade Bitcoin Mining in Himalayas as 'Halving' Looms |url=https://www.bloomberg.com/news/articles/2024-04-04/bhutan-to-upgrade-bitcoin-btc-mining-in-himalayas-as-halving-looms |publisher=Bloomberg News |date=April 4, 2024 |first=Sidhartha |last=Shukla}}
*{{Cite web |last=Martin |first=Iain |title=The Kingdom of Bhutan Has Been Quietly Mining Bitcoin for Years |url=https://www.forbes.com/sites/iainmartin/2023/04/30/bhutan-bitcoin-mining-crypto/ |access-date=2025-01-07 |website=Forbes |language=en |date=April 30, 2023}}</ref> The company also partnered with [Nvidia](/source/Nvidia) and announced plans to launch Bitdeer AI Cloud. Bitdeer began construction on its first [artificial intelligence](/source/artificial_intelligence) (AI) cloud data center in Singapore, while software was being developed.<ref name=":1" />

In the U.S., Bitdeer has mining facilities in Tennessee, Texas, and Washington.<ref>{{Cite news |last1=Dance |first1=Gabriel J. X. |last2=Forsythe |first2=Michael |date=2023-10-13 |title=Across U.S., Chinese Bitcoin Mines Draw National Security Scrutiny |url=https://www.nytimes.com/2023/10/13/us/bitcoin-mines-china-united-states.html |access-date=2025-01-23 |work=The New York Times |language=en-US |issn=0362-4331 |quote=The company has a 563-megawatt operation, originally run by Bitmain, in a former aluminum-smelting plant about an hour from Austin. (It also has outfits in Tennessee and Washington State.)}}</ref> The company operates a mine established in [East Knoxville](/source/East_Knoxville), Tennessee in 2018. The facility drew 63 megawatts of power, as of 2022.<ref>{{Cite web |last=Gabrielle |first=Vincent |date=June 1, 2022 |title=Hidden in East Tennessee, crypto capitalists lead a modern day gold rush |url=https://www.knoxnews.com/in-depth/news/2022/06/01/tennessee-cryptocurrency-miners-lead-modern-day-electricity-rush/6795561001/ |access-date=2025-01-23 |website=Knoxville News Sentinel |quote=The largest mine I was able to locate, owned by Bitdeer LLC, is in Knoxville. Its facility draws about 63 megawatts of power.}}</ref> In 2024, Bitdeer had approximately 30 employees in Knoxville and was the Knoxville Utility Board's largest industrial customer.<ref>{{cite news |last1=Faizer |first1=Melanie |date=February 2, 2024 |title=Rise of crypto mines in the South raises concerns for electric grid and rates |url=https://www.wuot.org/news/2024-02-02/rise-of-crypto-mines-in-region-raises-concerns-tva-stops-giving-grants-to-crypto-meets-with-miners |publisher=[WUOT](/source/WUOT) |archive-date=2024-11-27 |access-date=2025-02-07 |archive-url=https://web.archive.org/web/20241127102726/https://www.wuot.org/news/2024-02-02/rise-of-crypto-mines-in-region-raises-concerns-tva-stops-giving-grants-to-crypto-meets-with-miners |url-status=live }}</ref>

Bitdeer is among the largest cryptocurrency mining operations in Texas.<ref>{{Cite news |last1=Dance |first1=Gabriel J. X. |last2=Forsythe |first2=Michael |date=2023-10-13 |title=Across U.S., Chinese Bitcoin Mines Draw National Security Scrutiny |url=https://www.nytimes.com/2023/10/13/us/bitcoin-mines-china-united-states.html |access-date=2025-01-23 |work=The New York Times |language=en-US |issn=0362-4331 |quote=Blue Safari ceased to exist this April, when it merged with Bitdeer Technologies Group, one of the biggest cryptocurrency mining operations in Texas.}}</ref><ref>{{cite web |date=2024-10-06 |title=Bitdeer Technologies (BTDR) Is Not Just a Bitcoin Mining Company |url=https://www.nasdaq.com/articles/bitdeer-technologies-btdr-not-just-bitcoin-mining-company |access-date=2025-12-30 |website=Nasdaq |publisher=Nasdaq, Inc.}}</ref> The mine in [Rockdale](/source/Rockdale%2C_Texas)<ref>{{Cite web |last=Sigalos |first=MacKenzie |date=2021-10-31 |title=Two of the biggest bitcoin mining companies in the world are battling it out in a Texas town of 5,600 people |url=https://www.cnbc.com/2021/10/31/bitcoin-mining-giants-bitdeer-riot-blockchain-in-rockdale-texas.html |access-date=2025-01-06 |website= |publisher=[CNBC](/source/CNBC) |language=en}}</ref> has been paid to reduce electricity usage by the [Electric Reliability Council of Texas](/source/Electric_Reliability_Council_of_Texas) during strains to the state's [electrical grid](/source/electrical_grid) by the general public.<ref>Electric Reliability Council of Texas:
*{{Cite web |last=Weber |first=Peter |date=2023-04-17 |title=How voracious Bitcoin mining is messing with Texans |url=https://theweek.com/in-depth/1022698/how-voracious-bitcoin-mining-is-messing-with-texans |access-date=2025-01-15 |website=The Week |language=en |archive-date=2024-12-12 |archive-url=https://web.archive.org/web/20241212230932/https://theweek.com/in-depth/1022698/how-voracious-bitcoin-mining-is-messing-with-texans |url-status=live }}
*{{Cite news |title=Texas paid Bitcoin company $175k an hour to stop using energy during winter blackout |url=https://www.independent.co.uk/news/world/americas/texas-winter-blackout-bitcoin-b2318027.html |archive-url=https://web.archive.org/web/20230517113932/https://www.independent.co.uk/news/world/americas/texas-winter-blackout-bitcoin-b2318027.html |archive-date=2023-05-17 |access-date=2025-01-15 |work=[The Independent](/source/The_Independent) |location=London |language=en-GB |issn=1741-9743 |oclc=185201487 |url-status=live }}
*{{Cite news |last=Hao |first=Claire |date=September 9, 2023 |title=ERCOT paid one bitcoin company $32M to reduce electricity use in August |url=https://www.houstonchronicle.com/business/energy/article/ercot-bitcoin-crypto-riot-platforms-payment-18352991.php |work=[Houston Chronicle](/source/Houston_Chronicle) |publisher=[Hearst Communications](/source/Hearst_Communications) |issn=1074-7109 |oclc=30348909 }}</ref> In 2023, Bitdeer purchased 31 acres in [Massillon, Ohio](/source/Massillon%2C_Ohio) to construct a mining facility.<ref name=":4" /><ref>Massillon, Ohio:
*{{Cite web|url=https://www.cantonrep.com/story/news/local/massillon/2024/03/13/bitdeer-leaders-meet-with-massillon-city-council-on-possible-expansion/72928827007/|title=Bitdeer leaders pledge to be good neighbors, sound business partner for Massillon, region|first=Steven M.|last=Grazier|work=Massillon Independent|date=March 13, 2024|access-date=February 7, 2025|archive-date=March 13, 2024|archive-url=https://web.archive.org/web/20240313171220/https://www.cantonrep.com/story/news/local/massillon/2024/03/13/bitdeer-leaders-meet-with-massillon-city-council-on-possible-expansion/72928827007/|url-status=live}}
*{{Cite web |last=Grazier |first=Steven M. |date=March 19, 2024 |title=Massillon neighbors sound off on proposed cryptocurrency project |url=https://www.cantonrep.com/story/news/local/massillon/2024/03/19/massillon-city-council-delays-final-vote-on-bitdeer-replat-proposal/73014520007/ |access-date=2025-01-15 |website=The Independent }}
*{{Cite web |last=Grazier |first=Steven M. |date=April 2024 |title=Bitdeer wins approval to build new facility for cryptocurrency mining in Massillon |url=https://www.indeonline.com/story/news/local/2024/04/01/massillon-city-council-votes-8-1-monday-to-approve-bitdeer-replat/73145317007/ |access-date=2025-01-15 |website=The Independent |archive-date=2024-04-02 |archive-url=https://web.archive.org/web/20240402084834/https://www.indeonline.com/story/news/local/2024/04/01/massillon-city-council-votes-8-1-monday-to-approve-bitdeer-replat/73145317007/ |url-status=live }}</ref>

==References==
{{Reflist}}

==External links==
* {{Official website|https://www.bitdeer.com}}

{{Authority control}}
Category:Singaporean companies established in 2021
Category:Cryptocurrency companies
Category:Companies listed on the Nasdaq

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Adapted from the Wikipedia article [Bitdeer](https://en.wikipedia.org/wiki/Bitdeer) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Bitdeer?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.