We dig into Bitdeer’s surge to 63 exahash, the rapid evolution of SEAL miners, and why efficiency and low-cost power drive profitability even in a weaker hashprice. We also map the pivot to AI co-location in Norway, Rockdale, and Clarington, plus funding moves and the HODL sale.

• key Q4 highlights and self-mining growth
• SEAL miner roadmap, wafer timing, and sales strategy
• margin pressure versus efficiency gains and power costs
• 2026 hashrate direction and limited hosting expansion
• Norway as first AI co-location lease, build timelines
• Rockdale and Clarington cost frameworks and land strategy
• rationale for selling the HODL to fund acreage
• core moat in ASIC efficiency and large power sites
• rising hyperscaler interest and improving terms
• Dogecoin/Litecoin DL1 as a complementary use of wafers
• convertible notes to fund builds and extend maturities
• five-year outlook across mining and co-location

Check out the new investor deck and website for Bitdeer Technologies Group!

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