Shares of Bitdeer Technologies Group rose on Thursday after the Bitcoin (BTC) mining infrastructure company announced a $36 million manufacturing facility in Nevada, a move that expands its US production capacity and could reduce its reliance on third-party suppliers for mining hardware.
Bitdeer climbed 14.1% to $14.33, fully recovering from a selloff earlier in the week. Despite Thursday’s rally, the stock remains roughly 27% below its June high but is up 26% year-to-date.
The gains followed Bitdeer’s announcement that it will build a manufacturing facility in Sparks, Nevada, to assemble its SEALMINER line of Bitcoin mining machines. The plant will produce key mining hardware components, with commercial production expected to begin by the end of the year.
Bitdeer Technologies Group (BTDR) stock. Source: Yahoo Finance
Bitdeer CEO Catherine Guo told local media the Singapore-based company worked with Nevada Governor Joe Lombardo’s administration and local authorities to secure tax incentives, including a reduction in qualifying sales taxes, as part of its decision to establish operations in the state.
The investment comes as several large Bitcoin mining companies are expanding into AI and high-performance computing, leveraging their access to power and data center infrastructure. Bitdeer has also expanded into AI cloud services and HPC, though the new Nevada facility will be dedicated to manufacturing Bitcoin mining hardware.
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Bitcoin miners ramp up AI infrastructure investments
While Bitdeer is expanding its hardware manufacturing business, many publicly traded Bitcoin miners continue to diversify beyond cryptocurrency mining.
On Thursday, MARA Holdings announced plans to acquire a Texas site with up to 2 gigawatts of capacity to expand its AI and digital infrastructure business. Earlier this week, TeraWulf signed a 20-year data center lease with AI startup Anthropic, a deal the company said could generate roughly $19 billion in contract revenue.
Bitdeer, meanwhile, remains focused on expanding its mining operations alongside its infrastructure business. In its latest production update, the company said it mined 921 BTC in May, a 370% increase from the previous year.
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