Bitdeer Technologies raised its bitcoin holdings by 75% to 1,039 BTC over two months by shifting to self-mining amid delayed customer payments. Despite a drop in production from January to February, the firm focuses on developing energy-efficient mining technology while its stock sees a slight increase.

Bitdeer Technologies has recently reported an impressive increase in its bitcoin holdings, rising by 75% over a two-month period, bringing the total to 1,039 BTC as of February 2025. This surge is largely attributed to the company’s strategic decision to repurpose some of its mining rigs for self-mining due to delayed customer payments during a significant downturn in bitcoin prices.

As the Singapore-based firm shifted focus to self-production, its bitcoin holdings expanded from 594 BTC in December. While this places Bitdeer among the prominent bitcoin miners, it remains behind market leaders such as MARA Holdings and Riot Platforms, holding 46,374 BTC and 18,692 BTC respectively.

Bitdeer’s operational focus includes advancing its bitcoin mining technology, highlighted by the recent performance of its A3 miner, which demonstrated notable energy efficiency improvements. The company reported a net loss of $531.9 million for the fourth quarter, a result of heavy investments in developing new mining rigs.

In February, the mining firm produced 110 BTC, down from 126 BTC in January, attributable in part to the shorter month. Despite this decrease, Bitdeer has increased its total proprietary hash rate to 9.4 EH/s, up from 8.9 EH/s in December. In the stock market, Bitdeer’s shares experienced a slight rise, increasing by 0.85% to reach a value of $10.66 on Nasdaq.

In summary, Bitdeer Technologies has successfully increased its bitcoin holdings significantly amidst challenging market conditions. By redirecting its mining rigs towards self-production, it has established itself as a major player in the bitcoin mining space, albeit still trailing behind leading competitors. The company’s focus on advancing its mining technology and recovery from losses signifies its commitment to evolving within the cryptocurrency domain.

Original Source: www.coindesk.com

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