Article · Wikipedia archive · Last revised May 30, 2026

Bitdeer

Bitdeer Technologies Group, or simply Bitdeer, is a cryptocurrency company and mining platform based in Singapore. Spun off from the bitcoin-mining chip producer Bitmain, Bitdeer is among the largest miners by computer power and focuses on blockchain and high-performance computing. Bitdeer's U.S. headquarters are located in San Jose, California. The company also operates in other U.S. states as well as Europe and Bhutan.

Last revised
May 30, 2026
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≈ 6 min
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Bitdeer Technologies Group
Nasdaq: BTDR
FounderJihan Wu
Headquarters
Singapore
Key people
Jihan Wu (Executive chairman, CEO)
RevenueS$485,975,304 (2023)
Number of employees
211 (2023)

Bitdeer Technologies Group, or simply Bitdeer, is a cryptocurrency company and mining platform based in Singapore. Spun off from the bitcoin-mining chip producer Bitmain, Bitdeer is among the largest miners by computer power1 and focuses on blockchain and high-performance computing.2 Bitdeer's U.S. headquarters are located in San Jose, California.3 The company also operates in other U.S. states as well as Europe and Bhutan.4

History

In January 2021,5 Bitdeer was spun off from the bitcoin-mining chip producer Bitmain,6 which was co-founded by entrepreneur Jihan Wu in 2013. After the spin-off, Bitdeer established its headquarters in Singapore, where Wu resides.7 Wu is the chief executive officer and executive chairman of Bitdeer.859

In November 2021, Bitdeer announced plans to merge with Blue Safari Group Acquisition Corp. and file an initial public offering.5610 After a delayed merger with the special-purpose acquisition company, Bitdeer was listed on the Nasdaq in April 202311 at a valuation of $1.18 billion. In June 2023, Bitdeer announced plans to repurchase as much as $1 million worth of its stock.1 The company had 211 employees and earned S$485,975,304 in 2023.12

In 2022, Bitdeer acquired the high-security storage facility Le Freeport in Singapore for S$40 million (US$28.4 million)1314 Tether acquired a $100 million stake in Bitdeer in 2024.15

In November 2025, a fire broke out at the construction site of Bitdeer's Massillon, Ohio cryptomine, damaging two buildings in the complex. The chief of Massillon Fire Department, Matt Heck, determined no signs of arson were determined16, though no cause was identified.17

In April 2026, Bitdeer announced the SEALMINER A4 Bitcoin mining machines, using ships designed to improve energy efficiency and support large-scale mining operations.18

Data centers and mining operations

In 2022, Bitdeer sought to raise $200 million from outside investors to purchase discounted hardware.1920

In 2023, Bitdeer had five mining data centers in the U.S. and Norway.1 Bitdeer partnered with the government of Bhutan in 2023 to increase mining capacity and create a fund of up to $500 million for green mining operations in the Himalaya kingdom.121 The company also partnered with Nvidia and announced plans to launch Bitdeer AI Cloud. Bitdeer began construction on its first artificial intelligence (AI) cloud data center in Singapore, while software was being developed.2

In the U.S., Bitdeer has mining facilities in Tennessee, Texas, and Washington.22 The company operates a mine established in East Knoxville, Tennessee in 2018. The facility drew 63 megawatts of power, as of 2022.23 In 2024, Bitdeer had approximately 30 employees in Knoxville and was the Knoxville Utility Board's largest industrial customer.24

Bitdeer is among the largest cryptocurrency mining operations in Texas.2526 The mine in Rockdale27 has been paid to reduce electricity usage by the Electric Reliability Council of Texas during strains to the state's electrical grid by the general public.28 In 2023, Bitdeer purchased 31 acres in Massillon, Ohio to construct a mining facility.329

References

References

  1. Lee, Zinnia. "Crypto Tycoon Jihan Wu's Mining Platform Bitdeer Gains 122% On Buybacks". Forbes. Retrieved 2025-01-06.
  2. "Crypto mining firm Bitdeer partners Nvidia to launch AI cloud solutions". The Straits Times. Archived from the original on 2023-11-18. Retrieved 2025-01-06.
  3. "Bitdeer pledges to build higher, stronger wall to reduce noise from cryptocurrency mining". The Independent. Gannett. March 26, 2024. OCLC 11129683. Retrieved 2025-01-15.
  4. "Bitdeer Technologies (BTDR) Is Not Just a Bitcoin Mining Company". Nasdaq. Nasdaq, Inc. 2024-10-06. Retrieved 2025-12-30.
  5. Lee, Zinnia. "Jihan Wu's Crypto Mining Platform Bitdeer to Go Public in $4 Billion SPAC Deal". Forbes. Retrieved 2025-01-06.
  6. Yasmin, Mehnaz (November 18, 2021). "Crypto mining platform Bitdeer to go public through $4 bln SPAC merger". Reuters.
  7. Huang, Zheping (May 8, 2024). "TikTok Places ByteDance Founder Among China Moguls in Singapore". Bloomberg News.
  8. "Jihan Wu: Chief Executive Officer, Bitdeer Technologies Group". Bloomberg News.
  9. Olsen, Robert; Lee, Zinnia. "Billionaire Crypto Pioneer Says Market Will Grow To Tens Of Trillions Of Dollars". Forbes. Archived from the original on 2024-01-22. Retrieved 2025-02-07. Wu stepped away from Bitmain at the beginning of the year to focus on his role as chairman of two spinoffs which are both based in Singapore—Bitdeer Technologies, a cryptocurrency mining platform that's already announced plans to list on the Nasdaq at a $4 billion valuation...
  10. Kim, Crystal (November 18, 2021). "Jihan Wu's Bitcoin Mining Firm Seeks U.S. Listing in SPAC Deal". Bloomberg News. Archived from the original on 2022-01-25. Retrieved 2025-02-07.
  11. Pan, David (April 14, 2023). "Crypto Miner Bitdeer Makes Delayed SPAC Debut in Changed Market". Bloomberg News.
  12. "Singapore's fastest-growing companies 2025". The Straits Times.
  13. Pakiam, Ranjeetha; Chanjaroen, Chanyaporn; Huang, Zheping (2022-09-20). "Chinese Crypto Tycoon-Backed Bitdeer Buys Asia's 'Fort Knox'". Bloomberg News. Archived from the original on 2023-11-08. Retrieved 2025-01-07.
  14. Mattei, Shanti Escalante-De (2022-09-20). "Crypto Tycoon Buys Yves Bouvier's Maximum Security Freeport in Singapore". ARTnews. Retrieved 2025-01-07.
  15. Nicolle, Emily (May 31, 2024). "Tether Acquires $100 Million Stake in US-Listed Bitcoin Miner Bitdeer". Bloomberg News. Retrieved 2025-01-06.
  16. Russell, Laurence (2025-11-12). "Fire damages two buildings at Bitdeer's Ohio Bitcoin mine construction site". www.datacenterdynamics.com. Retrieved 2025-12-27.
  17. Mutuma, Maxwell (2025-11-12). "Massillon Fire Hits Bitdeer Bitcoin Mining Site: Cause Still Unknown". CoinCentral. Retrieved 2025-12-27.
  18. "Does Bitdeer (BTDR) Owning SEALMINER A4 Chip Design Quietly Shift Its Bitcoin Mining Moat?". simplywall.st. 2026-04-08. Retrieved 2026-04-10.
  19. Mason, Emily (September 28, 2022). "Crypto Billionaire Jihan Wu Aims to Raise $200 Million to Purchase Assets from Struggling Bitcoin Miners". Forbes. Archived from the original on 2023-05-19. Retrieved 2025-01-07.
  20. Pan, David (September 27, 2022). "Crypto Tycoon's Bitdeer Debuts Fund Targeting Distressed Miners". Bloomberg News. Archived from the original on 2023-07-24. Retrieved 2025-02-07.
  21. Bhutan:
  22. Dance, Gabriel J. X.; Forsythe, Michael (2023-10-13). "Across U.S., Chinese Bitcoin Mines Draw National Security Scrutiny". The New York Times. ISSN 0362-4331. Retrieved 2025-01-23. The company has a 563-megawatt operation, originally run by Bitmain, in a former aluminum-smelting plant about an hour from Austin. (It also has outfits in Tennessee and Washington State.)
  23. Gabrielle, Vincent (June 1, 2022). "Hidden in East Tennessee, crypto capitalists lead a modern day gold rush". Knoxville News Sentinel. Retrieved 2025-01-23. The largest mine I was able to locate, owned by Bitdeer LLC, is in Knoxville. Its facility draws about 63 megawatts of power.
  24. Faizer, Melanie (February 2, 2024). "Rise of crypto mines in the South raises concerns for electric grid and rates". WUOT. Archived from the original on 2024-11-27. Retrieved 2025-02-07.
  25. Dance, Gabriel J. X.; Forsythe, Michael (2023-10-13). "Across U.S., Chinese Bitcoin Mines Draw National Security Scrutiny". The New York Times. ISSN 0362-4331. Retrieved 2025-01-23. Blue Safari ceased to exist this April, when it merged with Bitdeer Technologies Group, one of the biggest cryptocurrency mining operations in Texas.
  26. "Bitdeer Technologies (BTDR) Is Not Just a Bitcoin Mining Company". Nasdaq. Nasdaq, Inc. 2024-10-06. Retrieved 2025-12-30.
  27. Sigalos, MacKenzie (2021-10-31). "Two of the biggest bitcoin mining companies in the world are battling it out in a Texas town of 5,600 people". CNBC. Retrieved 2025-01-06.
  28. Electric Reliability Council of Texas:
  29. Massillon, Ohio:
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