Finance

Bitdeer’s Ohio Mining Facility Catches Fire: Will the Blaze Derail Expansion Plans?

Bitdeer’s Ohio facility caught fire during construction, causing damage but no operational impact.

November 12, 2025, 11:08 AM

Phone screen displaying the Bitdeer website with information about Bitcoin mining and SEALMINER hardware.

The Bitdeer Technologies Group website is displayed on a mobile phone, detailing information about Bitcoin mining. By T. Schneider / Shutterstock.com.

Executive Summary

Bitcoin miner Bitdeer reported a fire on November 11 at its under-construction facility in Massillon, Ohio.

The fire caused no injuries and did not impact Bitdeer’s current operational hashrate, though two of 26 buildings were damaged.

The incident occurred shortly after Tether sold 20% of its BTDR holding, coinciding with a 14% drop in Bitdeer’s stock.

The Story So Far

The fire at Bitdeer’s under-construction Bitcoin mining and AI cloud facility in Massillon, Ohio, a key 221-megawatt U.S. expansion project for the company, originated during welding operations and was exacerbated by strong winds, occurring shortly after Tether’s 20% sale of its BTDR holdings coincided with a 14% drop in Bitdeer’s stock.

Why This Matters

While Bitdeer’s current mining operations remain unaffected by the fire at its Ohio facility, the incident is expected to cause construction delays and incur significant repair costs, potentially pushing back the full energization of this key expansion project. This setback, occurring amidst a recent stock drop and Tether’s sale of its holdings, could further impact investor confidence despite the lack of immediate operational disruption.

Who Thinks What?

Bitdeer’s leadership, including Chairman Jihan Wu, stated that the fire originated during welding operations and spread due to strong winds, confirming no injuries and no impact on the company’s current operational hashrate, though two buildings were damaged and will be replaced.

The market reacted negatively to the incident, with Bitdeer’s stock experiencing a 14% drop on November 11, coinciding with Tether’s 20% sale of its BTDR holding.

Singapore-based Bitcoin miner Bitdeer (Nasdaq: BTDR) reported a fire on the afternoon of November 11 at its under-construction Bitcoin mining and AI cloud facility in Massillon, Ohio. Firefighters quickly extinguished the blaze, confirming no injuries, though two of the 26 buildings at the site sustained damage. The company stated that no mining equipment had been installed, and the incident will not impact its current operational hashrate.

Incident Details

Bitdeer Chairman Jihan Wu stated that the fire originated during welding operations and spread rapidly due to strong winds. He confirmed that the company’s senior management team was on site to investigate and assess the full extent of the damage.

Wu added that the transformers at the facility would be inspected to determine if they were affected, and the damaged buildings would be replaced. The miner company has not yet disclosed an estimate for repair costs or provided a timeline for rebuilding.

Facility Context and Market Reaction

The Massillon facility is a major U.S. expansion project for Bitdeer, planned with a total capacity of 221 megawatts (MW). The company had previously reported that 21 MW of this capacity was expected to be energized in November, with full energization of the site targeted for the end of the first quarter of 2026.

This fire incident occurred shortly after Tether’s 20% sale of its BTDR holding. This sale coincided with a 14% drop in Bitdeer’s stock on November 11.

Outlook

While the fire at Bitdeer’s Ohio facility represents a setback for its construction timeline, the company maintains that its current operational hashrate remains unaffected and no personnel were injured. Further details regarding repair costs and the revised completion schedule for the Massillon site are expected.