Bitdeer turns to self-mining Bitcoin, US operations amid tariff tumult — Report

Key Points

  • Bitdeer is expanding its self-mining operations and investing in US-based production due to global trade tensions and cooling demand for mining hardware.
  • The company plans to start manufacturing mining rigs in the US in the second half of the year, aiming to bring jobs and manufacturing back to America.
  • The Bitcoin network's vulnerability to trade barriers is highlighted by the complex global supply chains involved in mining hardware production.
  • Bitdeer's stock has faced challenges, dropping significantly after lower-than-expected earnings, influenced by the Bitcoin halving in April 2024.
  • The halving event reduced mining rewards, leading to a significant drop in mining revenues and gross profits across the sector.

Summary

Bitcoin miner Bitdeer is adapting to the current economic climate by focusing on self-mining and expanding its operations in the United States. Amidst looming trade wars and a cooling demand for mining hardware, Bitdeer has decided to prioritize its own mining operations. The company is also planning to manufacture mining rigs in the US, aligning with President Trump's push for domestic manufacturing. This strategic shift comes at a time when the Bitcoin network faces challenges due to its reliance on global supply chains, which are now threatened by potential tariffs. The sector has been struggling since the Bitcoin halving in April 2024, which halved the mining rewards, leading to a significant decrease in mining revenues and profitability. Bitdeer's attempt to offset these losses through sales of energy-efficient mining rigs has met with limited success, reflecting broader market turbulence. Meanwhile, other crypto mining operations like American Bitcoin are exploring public offerings, indicating a dynamic shift in the industry's landscape.

cointelegraph
April 15, 2025
Crypto
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