Executive Summary
The Story So Far
Why This Matters
Who Thinks What?
Bitdeer (BTDR) reported a substantial increase in its Bitcoin mining output for September 2025, mining 452 BTC. This figure represents a 20.5% month-over-month rise from August’s 375 BTC, with average daily production climbing to 15.1 BTC from 12.1 BTC.
Operational Expansion
The company expanded its self-mining hashrate to 35.0 EH/s in September and is on target to reach 40 EH/s by the end of October. Bitdeer’s total hashrate under management reached 49.2 EH/s, with 14.2 EH/s attributed to hosting services.
Manufacturing and Innovation
In its mining rig manufacturing and research and development segment, Bitdeer produced 34.2 EH/s of SEALMINER A2 rigs, with an additional 2.8 EH/s in final assembly. Of these manufactured units, 6.1 EH/s were shipped to external customers, while 22.6 EH/s were deployed for Bitdeer’s self-mining operations, and 5.5 EH/s were in transit to company sites.
Bitdeer also launched its new SEALMINER A3 series, commencing mass production with initial deliveries expected in October. Furthermore, the company completed the first tape-out of its SEAL04 chip, which has demonstrated sub-10 J/TH efficiency in initial chip-level tests.
Infrastructure Development and Bitcoin Holdings
As of September 30, Bitdeer held 2,029 BTC. The company made significant progress on its infrastructure, completing energization at its Tydal, Norway (175 MW) and Jigmeling, Bhutan (500 MW) sites. Bitdeer also confirmed that 570 MW at Clarington, Ohio, will be available by the end of Q3 2026 and launched a 300 MW grid-interconnected site in Niles, Ohio.
These developments have increased Bitdeer’s global power pipeline to 3 GW, representing a total available electrical capacity of 2,992 MW.
Market Reaction
Following the operational update, Bitdeer’s stock (BTDR) saw a 15% increase during pre-market trading at the time of publication.