Bitdeer stock jumps 14% as firm expands US mining hardware
Bitdeer stock jumps about 14% on Thursday after the company announced a $36 million manufacturing facility in Sparks, Nevada, to assemble its SEALMINER Bitcoin mining machines. The project expands U.S. hardware production and could reduce the company's dependence on third-party mining equipment suppliers. The move positions the Singapore-based miner to bring more of its supply chain onshore as publicly traded mining firms face fresh scrutiny over AI pivots and insider sales.
Key Takeaways
- Bitdeer stock climbed 14.1% to $14.33 after the Nevada plant announcement, fully recovering from an earlier weekly selloff.
- The $36 million Sparks facility will produce SEALMINER hardware and key components, with commercial production targeted by year-end.
- CEO Catherine Guo said Bitdeer secured Nevada tax incentives, including reduced qualifying sales taxes, with support from Governor Joe Lombardo's administration.
- Bitdeer mined 921 BTC in May, up 370% year over year, while rivals pursue large AI and data-center deals.
- Thursday's crypto headlines also included Swift's blockchain ledger rollout and ongoing U.S. regulatory staffing debates.
Why did Bitdeer stock jump on Thursday?
Investors bid up Bitdeer after it unveiled plans to build a manufacturing plant in Sparks, Nevada. The facility is part of a $36 million investment aimed at expanding the company's U.S. production capacity for mining hardware.
Shares rose 14.1% to $14.33, according to Cointelegraph. That rally erased losses from earlier in the week, though the stock remains roughly 27% below its June high and is up 26% year-to-date.
The market reaction reflects growing interest in miners that can control more of their hardware stack. Reducing dependence on outside suppliers could improve margins and execution speed if commercial output begins on schedule.
What will the Nevada facility manufacture?
The Sparks plant will assemble Bitdeer's SEALMINER line of Bitcoin mining machines and produce key hardware components. Commercial production is expected to begin by the end of the year.
Although Bitdeer has expanded into AI cloud services and high-performance computing, the Nevada site will be dedicated to Bitcoin mining hardware. That focus sets it apart from peers racing to repurpose power and data-center assets for AI workloads.
Guo told local media that Bitdeer worked with Lombardo's administration and local authorities to secure tax incentives as part of its decision to establish operations in the state.
How does Bitdeer compare with other Bitcoin miners?
Several large mining companies are diversifying beyond cryptocurrency extraction. On Thursday, MARA Holdings announced plans to acquire a Texas site with up to 2 gigawatts of capacity for AI and digital infrastructure. Earlier this week, TeraWulf signed a 20-year data center lease with AI startup Anthropic that the company said could generate roughly $19 billion in contract revenue.
Bitdeer is taking a different path by doubling down on hardware manufacturing alongside its mining operations. Its May production update showed 921 BTC mined, a 370% increase from the prior year.
Investor attention on the sector is not limited to expansion plans. A Thursday Fintech & Crypto Alerts roundup noted that stablecoin issuer Tether reduced its stake in Bitdeer after the company's AI-driven rebound, while traders increasingly question insider stock sales at miners that pivoted toward AI infrastructure.
What broader crypto news landed the same day?
Beyond mining stocks, Swift said its blockchain-based ledger is ready for initial use after nine months of development, with major banks preparing cross-border payment pilots using tokenized deposits.
On the policy front, the White House said it had received no Democratic response to requests for names to fill vacancies at the SEC and CFTC, both of which remain understaffed at the leadership level as crypto market-structure legislation advances.
Senator Ron Wyden also urged Senate leaders to preserve crypto developer protections in the CLARITY Act, highlighting how regulatory and infrastructure headlines continue to shape sentiment alongside corporate expansion moves like Bitdeer's Nevada bet.