Bitdeer Technologies - Head of Capital Markets, Jeff LaBerge Q&A - Q4 Earnings & Outlook!

Power Mining Analysis

Bitdeer showcases impressive technological advancements with their SealMiner A3 achieving 9.7 joules per terahash efficiency at chip level, positioning them at the forefront of Bitcoin mining innovation. Jeff LaBerge walks us through their Q1 earnings, strategic shifts, and ambitious roadmap targeting 40 exahash of self-mining capacity by year-end.
• Q1 revenue of $70 million with first $4.1 million in ASIC sales recognized
• Self-mining hash rate increased to 12.1 exahash by quarter end
• Pivoting 570-megawatt Clarington, Ohio facility from Bitcoin mining to HPC/AI data center
• Successful tape-out of SealMiner A3 with industry-leading 9.7 J/TH efficiency at chip level
• Revolutionary A4 chip in development with target of 5 J/TH efficiency using entirely new architecture
• Strategic advantages of global operations including hydropower in Norway and vertical integration in Alberta
• Strong balance sheet with $215 million cash plus $130 million in cryptocurrency (at cost)
• Focus shifting from hosting to self-mining and ASIC manufacturing
• US manufacturing for SealMiners starting in second half of 2025
Take a second to hit the like button, subscribe to McNally Money, and let us know in the comments what you thought about Bitdeer's results and your outlook for the remainder of 2025.

Chapters

1. Episode Introduction and Bitdeer Q1 Results (00:00:00)

2. ASIC Sales and Revenue Recognition (00:10:17)

3. Seal Miner A3 Technology Development (00:18:42)

4. HPC Pivot at Clarington Ohio Facility (00:26:10)

5. Future of A4 Technology and Applications (00:33:50)

6. Capital Strategy and Funding Requirements (00:41:54)

7. Alberta Site and Vertical Power Integration (00:44:33)