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BTC Bitdeer\'s $36 million project: A bold leap forward for U.S. manufacturing
Bitdeer is taking an important step forward in building a new electronics manufacturing center in Sparks, Nevada. The project has an investment of US$36 million and aims to produce up to 10000 SEALMINER devices per month. This is not only Bitdeer\'s first large-scale manufacturing project in the U.S., but also a key milestone in its expansion plan, expected to be completed in 2026.
Can the Nevada factory drive U.S. expansion?
Bitdeer is known for its strength in cryptocurrency mining and data centers, and this time regards the Nevada factory as a strategic fulcrum. The plant will be staffed by approximately 70 professional engineers, aiming to enhance local manufacturing capabilities and strengthen supply chain resilience. This move is highly consistent with the company\'s goal of close production to the U.S. market. Bitdeer Chairman Paul Hanson emphasized the importance of enhancing supply chain reliability and proximity to U.S. customers. Catherine Guo, CEO of Bitdeer Industries, praised Nevada for its high-quality labor force, efficient logistics and friendly business environment, which prompted the factory to be located here. The plant will be an important part of Bitdeer\'s overall growth strategy in the United States, complementing existing facilities, including the San Jose Innovation Center.
Is low hash prices the next challenge?
Yes, timing is crucial. The current low profitability of Bitcoin mining is being highlighted through hash prices. According to the hash rate index, the hash price has stabilized at approximately US$29.81 and has declined recently, putting pressure on mining revenue. The halving of Bitcoin in April 2024 further exacerbates this situation-block rewards have been reduced, transaction fees have remained stable, and profit margins have continued to be squeezed. Miners using efficient equipment and operators with cheap power resources can better cope with these challenges, while older equipment faces longer recycling cycles due to declining revenue.
Bitdeer is reducing its dependence on suppliers through vertical integration. Its core strategy is to use its self-developed SEALMINER equipment. The SEALMINER A4 series sets a new benchmark with an energy efficiency of 9.45 joules per terahash. Data shows that Bitdeer dug up 921 bitcoins in May, a year-on-year increase of 370%; its self-mining power reached 70.2 Exa hashes/second, and its operating scale expanded rapidly. In addition to mining business, the company also looks to a broader future: the AI cloud business is expected to bring in annualized recurring revenue of US$69 million, and is exploring cooperative hosting opportunities in Norway, demonstrating diversified ambitions.
