Bitdeer Technologies Group operates as a technology company for blockchain and high-performance computing. The company is committed to providing comprehensive computing solutions for its customers.

The company handles complex processes involved in computing, such as equipment procurement, transport logistics, datacenter design and construction, equipment management, and daily operations. The company also offers advanced cloud capabilities to customers with high demand for artificial intelligence. The company operates six mining datacenters in the United States, Norway and Bhutan with an aggregate electrical capacity of 895MW as of July 31, 2024. From these mining datacenters, the company generates hash rate under management which is categorized into proprietary and hosting hash rate. As of July 31, 2024, the company’s proprietary hash rate was 8.6 EH/s. Together with the 12.6 EH/s hosting hash rate generated from mining machines hosted in its mining datacenters, the company possessed a total of 21.2 EH/s of hash rate under management as of July 31, 2024. The company expects to continue increasing its hash rate through 2024 and beyond through conversion of its existing hosting capacity, executing on pipeline capacity, and pursuing expansion opportunities on a global scale. As of July 31, 2024, the company possessed an aggregate pipeline capacity of 1,645MW in the United States, Norway and Bhutan.

The company primarily operates three business lines—self-mining, hash rate sharing and hosting. Self-mining refers to cryptocurrency mining for the company’s own account, which allows it to directly capture the high appreciation potential of cryptocurrency. The company offers two types of hash rate sharing solutions—Cloud Hash Rate and Hash Rate Marketplace. Through Cloud Hash Rate, the company’s primary hash rate sharing solution, it sells its proprietary hash rate to customers, offering hash rate subscription plans at fixed prices and sharing mining income with them under certain arrangements. Through its Hash Rate Marketplace solution, the company connects reliable third-party hash rate suppliers with hash rate users to facilitate hash rate sales and generates revenue from charging service fees. The company’s hosting services offer customers one-stop mining machine hosting solutions encompassing deployment, maintenance and management services for efficient cryptocurrency mining. Among a wide selection of hosting services, customers can either subscribe to the company’s Cloud Hosting service for the specified mining machines from which they derive computing power under a group-buying model, or send their mining machines to its mining datacenters for hosting under the General Hosting option or the Membership Hosting option. All of its three business lines are supported by Minerplus, the company’s self-developed integrated intelligent software platform, which offers software support to significantly reduce time needed for daily maintenance and mining machine upgrade and substantially decrease operations and maintenance headcount.

The company sources mining machines from a wide variety of manufacturers and traders with whom it has built robust relationships over the years. The company also engages in the sales of mining machines from time to time. The company stays at the forefront of technology development. As a market player with its proprietary hash rate slicing technology, the company has been successfully maintaining a less than 2% fluctuation for 98% of its hash rate sales contracts as of December 31, 2023. In March 2024, the company successfully tested its first Bitcoin mining chip, the SEAL01, which has been seamlessly integrated into its new SEALMINER A1 mining machines. As its inaugural mining machine, the SEALMINER A1 is expected to have a wall-mount power consumption between 20J/TH and 23J/TH. The company plans to deploy its proprietary ASIC technology at its mining datacenters in North America and Norway. The company also has new generations of mining machines in the pipeline. The company expects the wall-mount power consumption of its second-generation, third-generation and fourth-generation SEALMINER mining machines to be in the range of 15J/TH to 16.5J/TH, 11J/TH to 12J/TH and 5.5J/TH to 6J/TH, respectively.

In addition, the company offers advanced cloud capabilities and high-performance computing services to customers with high demand for artificial intelligence and computing. Powered by NVIDIA DGX SuperPOD with H100 system, the company’s AI cloud services provide customers with access to NVIDIA AI supercomputing. The company’s cloud services help customers accelerate their development of generative AI, large language models (LLMs), and other AI workloads.