$BTC Bitdeer secures $60M to increase Bitcoin ASIC production amid record hash rate

The Bitcoin mining firm Bitdeer has secured a $60 million loan to boost its Bitcoin ASIC manufacturing efforts as global mining competition intensifies amid record network hash rates.

According to its annual report, Bitdeer signed a loan agreement in April with the affiliated firm Matrixport, a crypto financial services company founded by Bitdeer's president, Jihan Wu.

The facility offers up to $200 million, backed by Bitdeer's Sealminer hardware, with a floating interest rate of 9% plus market indices. As of April 21, Bitdeer had utilized $43 million of the credit line.

The latest funding adds to an unsecured loan of $17 million secured in January, along with previous capital increases totaling $572.5 million through convertible notes in 2024. Bitdeer also issued over six million shares, raising nearly $119 million in the capital markets this year.

Bitdeer acquires a 101 MW energy project in Alberta

In February 2025, Bitdeer acquired a fully licensed 101 megawatt (MW) natural gas power project near Fox Creek, Alberta, for $21.7 million in cash, according to the annual filing.

The site, with potential to scale up to 1 gigawatt, includes all necessary permits for construction and a 99 MW grid connection. The power plant is expected to be developed with an EPC partner and is anticipated to be operational by the fourth quarter of 2026.

In March, the company also purchased 40 MW liquid-cooled mining containers from Saiheat.

Most recently, it was reported that Bitdeer is expanding its self-mining operations and investing in production based in the United States. The shift came in response to declining demand for its mining hardware from other miners.