Bitdeer to launch U.S. manufacturing and focus on self-mining
Bitcoin mining equipment maker Bitdeer is pivoting to in-house mining operations and launching production of mining rigs within the United States.
In response to declining demand for its equipment and the impact of tariff restrictions, the Singapore-headquartered firm plans to expand into U.S.-based manufacturing and prioritize self-mining of Bitcoin.
“Our future plan is to prioritize self-mining,”said Jeff LaBerge, Head of Capital Markets and Strategic Initiatives at Bitdeer, in an interview with Bloomberg.
LaBerge stated the company aims to scale up manufacturing in the U.S. in the second half of 2025, aligning with President Donald Trump’s push for domestic production and import restrictions.
“This has been a long-standing plan. We want to bring jobs and manufacturing back to America,” LaBerge added.
Revenue drops prompt strategy shift
In February, Bitdeer’s stock dropped by approximately 28% after it reported lower-than-expected Q4 2024 earnings.
Bitdeer stock price dynamics for 7 days. Source: Trading View
The revenue decline follows the Bitcoin halving in April 2024, which significantly affected the mining industry.
According to Bitdeer Chief Strategy Officer Harris Bassett, the lower performance compared to Q4 2023 was largely driven by reduced mining returns.
As previously noted by JPMorgan, average mining revenue and gross profit have fallen by 46% and 57%, respectively, since the halving.
The issuer of USDT Tether has increased its holdings in Bitcoin miner Bitdeer (BTDR), continuing the investment pattern that started almost a year ago.
Latest Bitcoin News
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
