The loan facility offers up to $200 million, secured by Sealminer equipment, with a floating interest rate of 9% plus market benchmarks. As of April 21, Bitdeer has drawn $43 million from this line.

This follows a $17 million unsecured loan in January and a total of $572.5 million raised via convertible notes in 2024. The company also raised $119 million in equity through share issuance this year.

Bitdeer Buys 101 MW Gas Power Plant in Canada

In February 2025, Bitdeer acquired a fully licensed 101 MW gas-fired power plant near Fox Creek, Alberta, for $21.7 million in cash. The site has the potential to scale to 1 GW and includes a 99 MW grid connection.

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The plant will be developed with an EPC partner and is expected to be operational by Q4 2026.

In March, Bitdeer also purchased 40 MW of liquid-cooled containers from Saiheat, supporting its shift towards expanding self-mining due to declining demand for its mining equipment.

“Our plan going forward is to prioritize our own self-mining,” said Jeff LaBerge, Bitdeer’s head of capital markets.

Bitcoin Hashrate Hits 1 Sextillion H/s While Miner Revenues Fall

Bitdeer’s aggressive expansion comes as Bitcoin’s network hashrate surged to 1 sextillion hashes per second in early April. While this showcases the growing computational power, it reduces individual miner profitability due to increased competition.

Miners are further squeezed by declining transaction fees, currently averaging just $1, down from $16+ a year ago. As a result, public miners sold over 40% of their BTC output in March, with firms like Hive, Bitfarms, and Ionic Digital reportedly selling more than 100% of their monthly production.

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The post Bitdeer Secures $60M to Expand ASIC Production! appeared first on Coin Engineer.

Metaplanet’s Bitcoin Investment Strategy

Japan-based public company Metaplanet (3350) purchased 156 BTC for $13.4 million, with an average cost of $85,590 per Bitcoin. Year-to-date, the company has achieved a 31.8% BTC yield, bringing its total Bitcoin holdings to $196.3 million.

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Metaplanet’s CEO, Simon Gerovich, announced that the company has been formally invited by the New York Stock Exchange (NYSE) and Nasdaq. In an X post, Gerovich stated that they are exploring ways to make Metaplanet shares more accessible to global investors.

Impact on Metaplanet’s Share Price

Metaplanet’s bold Bitcoin strategy has positively impacted its stock price. On Monday, shares surged by 20%, reaching 4,010 yen. The company has gained approximately $21.3 million from its Bitcoin holdings so far.

Following Bitdeer Technologies, Metaplanet became the second publicly traded company to capitalize on the Bitcoin dip by making additional purchases. Crypto investors are closely monitoring this strategy.

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The post Metaplanet Bought the Dip: Acquires 156 More BTC! appeared first on Coin Engineer.

From $93.8 million in the same period last year, the miner’s whole income rose to $99.2 million in the second quarter. In the second quarter, its gross profit grew by 50.6% year-on-year to $24.4 million.

“We attained these results despite a notable increase in the global network hashrate and the April 2024 halving,” Matt Kong, chief business officer of Bitdeer, said in a statement. “(Our) prior R&D investment in our cloud hashrate business contributed a gross profit of $7.3 million with a nearly 60% gross margin in Q2 and helped us generate more revenue for the same amount of hashrate relative to our peers.”

From $21.6 million in last year’s same quarter, Bitdeer’s self-mining revenue climbed to $41.6 million in the second quarter. That was mostly related to the rise in self-mining hash rate, which grew from 3.8 EH/s at its 100 MW mining plant in Bhutan to 7.3 EH/s. Kong also revealed that Bitdeer has “energized the first batch of our SEALMINER A1 chips” and intends to install 3.4 EH/s at its mining facilities by the end of this year.

Bitdeer concluded a contract with stablecoin issuer Tether in May for a private sale of up to $150 million worth of its shares. Bitdeer obtained $100 million in a private placement through the transaction under a warrant that would let Tether purchase extra shares for another $50 million.

With a market capitalization of $1.04 billion, Bitdeer’s Nasdaq share price dropped 3.55% Monday to $7.61. Year-to-date, the stock price has dropped 14.3%.

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A press statement states that Bitdeer concluded an investment deal whereby Tether will get 18,587,360 Class A ordinary shares. Tether also obtained a warrant to buy maybe five million more shares. All shares are priced at $10 apiece, though.

The deal closed on Thursday, resulting in immediate profits of $100 million. When the warrant is fully used, the overall investment might reach $150 million.

Customary protections against dilution abound on the warrant, including changes for share dividends, splits, and like acts. It also has weighted average anti-dilution protection for share issuances less the starting warrant exercise price. Tether reserves the right to use the warrant within a one-year period from the closure date.

Related: Ripple CEO Comments on Tether’s Fate Amid Regulatory Scrutiny

The placement agency for this private deal was Cantor Fitzgerald & Co. Still, the securities cannot be sold or offered inside the United States without registration or an exemption. Bitdeer stated it is dedicated to submitting the required registration statements with the U.S. Securities and Exchange Commission (SEC) to enable the sale of the shares linked to the recent private placement.

Tether guarantees itself as a major participant in the stablecoin scene with this investment. It also emphasizes its dedication to creativity, blockchain, and high-performance computer sector advancement.

Given recent concerns that its stablecoin USDT was being delisted from the Kraken exchange, the investment seems timely for Tether. Although Kraken has subsequently refuted the reports, Tether, for additional development, has fresh funding sources.

With a market capitalization of $111 billion, USDT is presently trading at $0.9977, according to Coingecko’s data; 24-hour trading volume is $38.8 billion.

The post Tether Invests $150M in Bitdeer for Bitcoin Mining appeared first on Coin Engineer.