Bitdeer Trends on Strong Production Results and New Co-Mining Deal
Bitdeer Technologies Group (NASDAQ:BTDR) is trending after its July update revealed strong production and operations results, along with a new co-mining agreement with Soluna Holdings.
The company's stock has been under selling pressure lately. Despite this, Bitdeer announced that its A102 facility in Malaysia is fully committed to long-term offtake agreements, with total expected contracted revenue exceeding $800 million.
Bitdeer also reported a significant increase in Bitcoin production, rising 322% year-over-year to 1,190 Bitcoin mined in July. The company's self-mining hash rate reached approximately 76.7 EH/s.
The update follows Bitdeer's announcement earlier this month of a $4.7 billion, 16-year AI/HPC data center lease for its Tydal, Norway campus. This deal has the potential to reach a total contract value of $8.0 billion through an eight-year extension.
Bitdeer will transition its infrastructure updates from a monthly cadence to quarterly disclosures issued alongside its financial earnings releases going forward.