Bitdeer Ramps Up Bitcoin Self-Mining Amid Cooling Rig Demand
Bitdeer Technologies Group (BTDR) is expanding its self-mining operations in response to decreased demand for mining rigs, a shift seen across the industry. Recent filings indicate that Bitdeer is rapidly increasing its mining capacity, aiming to position itself among the top five Bitcoin miners globally. In August, it mined 375 BTC, ranking sixth worldwide behind notable competitors. The trend is noted by The Miner Mag, which mentions hardware manufacturers like Canaan and Bitdeer repurposing surplus inventory for in-house mining. Analysts predict a cautious approach to fleet expansion among large miners due to challenging mining economics, especially following the 2024 halving. In light of these conditions, there is also a diversification into AI and data center services, as some miners lease excess capacity to AI firms to create more stable revenue streams during volatile crypto periods.
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