jihan wu Archives - Coin Engineer https://coinengineer.net/blog/tag/jihan-wu/ Btc, Coins, Pre-Sale, DeFi, NFT Tue, 22 Apr 2025 14:08:25 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://coinengineer.net/blog/wp-content/uploads/2024/04/cropped-Coin-Engineer-Logo-Favicon-2-32x32.png jihan wu Archives - Coin Engineer https://coinengineer.net/blog/tag/jihan-wu/ 32 32 Bitdeer Secures $60M to Expand ASIC Production! https://coinengineer.net/blog/bitdeer-secures-60m-to-expand-asic-production/ https://coinengineer.net/blog/bitdeer-secures-60m-to-expand-asic-production/#respond Tue, 22 Apr 2025 16:00:17 +0000 https://coinengineer.net/blog/?p=40640 Bitcoin mining firm Bitdeer has secured a $60 million loan to scale up its ASIC production and self-mining operations, according to its latest annual report. The funding comes through a loan agreement with Matrixport, a crypto finance company founded by Bitdeer’s chairman Jihan Wu. The loan facility offers up to $200 million, secured by Sealminer

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

]]> Bitcoin mining firm Bitdeer has secured a $60 million loan to scale up its ASIC production and self-mining operations, according to its latest annual report. The funding comes through a loan agreement with Matrixport, a crypto finance company founded by Bitdeer’s chairman Jihan Wu.

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.

bitdeer

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.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

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.

bitdeer

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.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

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

]]> https://coinengineer.net/blog/bitdeer-secures-60m-to-expand-asic-production/feed/ 0