Bitdeer Shares Tumble 15% as AI Pivot Fails to Ease Concerns

Bitdeer Technologies Group operates Bitcoin mining and mining-infrastructure businesses whose results are sensitive to cryptocurrency prices, network difficulty, energy costs and fleet efficiency. The company is also expanding its power and data-center footprint into artificial intelligence and high-performance computing, a diversification push aimed at creating new revenue streams and reducing its reliance on the volatile economics of Bitcoin mining.

Bitdeer said self-mining production reached 2,694 Bitcoin in the second quarter of 2026, an increase of nearly fivefold from the comparable period. Quarterly revenue rose 47% from a year earlier to $228.8 million, exceeding expectations. Despite the production surge, its Bitcoin holdings fell about 90% after the company cleared asset inventory, while management continued advancing AI data-center and high-performance computing projects.

Cryptocurrency mining chip and infrastructure provider Bitdeer is investing heavily in developing proprietary chips. As mining difficulty rises, in-house mining-machine production has become a key measure of competitiveness in the industry. Bitdeer’s push to manufacture its SEALMINER series is intended to reduce reliance on third-party suppliers and secure a long-term operating advantage in the highly competitive cryptocurrency market by giving the company control over core hardware technology.

Bitdeer said in July 2026 that it would invest $36 million to build a manufacturing plant in Nevada, where it will assemble its SEALMINER series of Bitcoin mining machines and expand U.S. production capacity. The company’s shares surged 14.1% in a single day following the announcement, signaling a positive market response to its strategy of reducing reliance on third-party suppliers and bringing hardware production in-house.