Bitdeer Shifts Focus to US Mining Rig Production

Bitdeer, a Bitcoin mining company, is planning to manufacture mining rigs in the United States. This strategic move addresses cooling demand for mining hardware and potential trade war impacts.

The company will prioritize its own self-mining operations. This pivot comes after Bitdeer's stock experienced a roughly 28% drop in February following lower-than-expected earnings for Q4 2024. The earnings were impacted by the April 2024 halving, which reduced mining rewards from 6.25 BTC to 3.125 BTC per block.

Bitdeer's decision reflects broader challenges in the Bitcoin mining sector, with companies adapting to volatile crypto markets and reduced mining profitability. The company aims to leverage US-based production to mitigate supply chain risks and potentially benefit from government incentives promoting domestic manufacturing.