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The Nasdaq-traded company specializing in bitcoin mining, Bitdeer, has unveiled its strategy to boost its overall hashrate by an additional 3.4 exahash per second (EH/s) through the deployment of its proprietary Sealminer A1 mining devices. These advanced rigs are slated for setup within Bitdeer’s mining facilities located in Texas and Norway, targeting the latter half of the year for completion, specifically in the third and fourth quarters.
Bitdeer to Deploy Sealminer A1 Bitcoin Mining Rigs
In the first week of March, Bitdeer (Nasdaq: BTDR), made headlines by introducing its proprietary cryptocurrency mining processor, the SEAL01, utilizing a cutting-edge 4-nanometer (nm) process. On Tuesday, the publicly traded mining entity disclosed its ambition to augment its hashrate by 3.4 EH/s this year, courtesy of its newly minted Sealminer A1 units.
“The company intends to install its own recently announced SEALMINER A1 miners at its mining datacenters in Rockdale, Texas in the United States; and, Norway in Q3 and Q4 2024 to accomplish this initial 3.4 EH/s expansion,” the mining business disclosed. “Bitdeer will add approximately 4.8 EH/s of [hashrate] and retire 1.4 EH/s of older mining rigs. This expansion is expected to grow the total proprietary [hashrate] from 8.4 EH/s to approximately 11.8 EH/s.”
Bitdeer’s growth and development of proprietary mining equipment coincide with the broader mining sector’s preparations for the upcoming fourth halving event. The industry is witnessing a significant influx of new machinery, extensive expansion of facilities, and the redistribution of older units to areas offering lower electricity costs. The mining firm also projects a series of expansions to its overall hashrate that is slated to continue to the end of 2025.
The firm said that it anticipates a potential increase of 30 to 40 EH/s in its mining operations by 2025, alongside the replacement of roughly 7 EH/s of older mining rigs with more advanced models. This strategy is expected to net an additional 23 EH/s of hashrate across existing and in-development data centers. Bitdeer forecasts that, by the close of 2025, the cumulative hashrate managed could surpass 46 EH/s.
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