04-16-2025, 07:12 AM
Bitdeer turns to self-mining Bitcoin, US operations amid tariff tumult — Report
<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDEvMDE5NDJjZTctZDFjNi03MTBhLTg0YmYtNjg5ZDBkNzk1NjQw.jpg"></p><p><p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDEvMDE5NDJjZTctZDFjNi03MTBhLTg0YmYtNjg5ZDBkNzk1NjQw.jpg" alt="Bitdeer turns to self-mining Bitcoin, US operations amid tariff tumult — Report"></p><p>Bitcoin miner Bitdeer is reportedly expanding its self-mining operations and investing in United States-based production as looming trade wars rock global supply chains and cryptocurrency markets. <p>Bitdeer has begun prioritizing mining Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="https://cointelegraph.com/bitcoin-price">BTC</a>) itself in response to cooling demand for its mining hardware from other miners, Bloomberg <a data-ct-non-breakable="null" href="https://www.bloomberg.com/news/articles/2025-04-15/crypto-firm-bitdeer-prioritizes-mining-to-weather-tariff-turmoil" rel="null" target="null" text="null" title="https://www.bloomberg.com/news/articles/2025-04-15/crypto-firm-bitdeer-prioritizes-mining-to-weather-tariff-turmoil">reported on April 15</a>.</p><p>“Our plan going forward is to prioritize our own self-mining,” Jeff LaBerge, Bitdeer’s head of capital markets and strategic initiatives, reportedly said. </p><p>Additionally, Bitdeer plans to scale US hardware manufacturing in the second half of the year as US President Donald Trump touts plans to penalize foreign imports and promote domestic manufacturing, Bloomberg said.</p><p>“This is something we’ve been planning for a long time,” LaBerge said about the manufacturing plans. “We want to bring jobs and manufacturing back to America.”</p><p>In April, Trump tipped plans for sweeping tariffs on US imports. The Bitcoin network is <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/tariffs-capital-controls-could-disrupt-blockchains-including-bitcoin-execs" rel="null" target="null" text="null" title="null">especially vulnerable to trade barriers</a> since mining hardware involves complex global supply chains.</p><figure><img alt="Bitdeer turns to self-mining Bitcoin, US operations amid tariff tumult — Report" src="https://s3.cointelegraph.com/uploads/2025-04/01963a3d-cb54-7305-b36f-8b5bf1244ea6" title=""><figcaption style="text-align: center;"><p><em>Bitcoin’s hash price is near all-time lows. Source: </em><a data-ct-non-breakable="null" href="https://data.hashrateindex.com/network-data/bitcoin-hashprice-index" rel="nofollow noopener" target="_blank" text="null" title="https://data.hashrateindex.com/network-data/bitcoin-hashprice-index"><em>Hashrate Index</em></a></p></figcaption></figure><p><em><strong>Related: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/tariffs-capital-controls-could-disrupt-blockchains-including-bitcoin-execs" rel="" target="_self" text="null" title="https://cointelegraph.com/news/tariffs-capital-controls-could-disrupt-blockchains-including-bitcoin-execs"><em><strong>Tariffs, capital controls could fragment blockchain networks — Execs</strong></em></a></p><h2>Sector-wide struggles</h2><p>Bitcoin miners — including Bitdeer — <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-miners-languish-crypto-market-rout-jpmorgan" rel="null" target="null" text="null" title="https://cointelegraph.com/news/bitcoin-miners-languish-crypto-market-rout-jpmorgan">have struggled in 2025</a> as volatile crypto markets worsen the impact of the Bitcoin network’s April 2024 halving. </p><p>In February, Bitdeer’s stock dropped by roughly 28% after the Bitcoin miner <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitdeer-stock-drops-28-after-earnings-miss" rel="null" target="null" text="null" title="null">announced lower-than-expected earnings</a> and revenues for the fourth quarter of 2024. </p><p>Bitdeer’s “lower performance compared to Q4 2023 was primarily driven by the impact of the April 2024 halving,” among other factors, Harris Bassett, Bitdeer’s chief strategy officer, <a data-ct-non-breakable="null" href="https://www.investing.com/news/transcripts/earnings-call-transcript-bitdeer-q4-2024-sees-revenue-drop-stock-plummets-93CH-3889507" rel="null" target="null" text="null" title="null">said</a> during Bitdeer’s earnings call. </p><p>Every four years, the amount of BTC mined per “block” — a bundle of transaction data stored on the blockchain — is cut in half. The April 2024 halving reduced mining rewards from 6.25 BTC to 3.125 BTC per block.</p><figure><img alt="Bitdeer turns to self-mining Bitcoin, US operations amid tariff tumult — Report" src="https://s3.cointelegraph.com/uploads/2025-04/0196211f-0c8d-7012-b3d7-66905a9f9aa1" title=""><figcaption style="text-align: center;"><p><em>Bitcoin price versus stocks. Source: </em><a data-ct-non-breakable="null" href="https://www.21shares.com/en-us/research/stablecoins-the-real-powerhouse-of-crypto?utm_campaign=US%20Newsletter&utm_medium=email&_hsenc=p2ANqtz-8SvyB1NiRKkHhlr-aKCrsnLJA58rdDwaXkiNm6bBD--lKh3ypa1M5E1qWqFAeHtjkPaH66tJC0ckMdnyA0iLthanksz1u5g&_hsmi=107486230&utm_content=107486230&utm_source=hs_email" rel="nofollow noopener" target="_blank" text="null" title="https://www.21shares.com/en-us/research/stablecoins-the-real-powerhouse-of-crypto?utm_campaign=US%20Newsletter&utm_medium=email&_hsenc=p2ANqtz-8SvyB1NiRKkHhlr-aKCrsnLJA58rdDwaXkiNm6bBD--lKh3ypa1M5E1qWqFAeHtjkPaH66tJC0ckMdnyA0iLthanksz1u5g&_hsmi=107486230&utm_content=107486230&utm_source=hs_email"><em>21Shares</em></a></p></figcaption></figure><p>Since then, mining revenues and gross profits have dropped by an average of 46% and 57%, respectively, JPMorgan said previously in a research note shared with Cointelegraph. </p><p>Meanwhile, Bitcoin’s hash price — a measure of miner profitability — has sunk to near all-time lows, according to <a data-ct-non-breakable="null" href="https://data.hashrateindex.com/network-data/bitcoin-hashprice-index" rel="null" target="null" text="null" title="null">data</a> from the Hashrate Index. </p><p>In 2024, Bitdeer tried to offset declining mining revenues by selling its own energy-efficient Bitcoin mining rigs. However, sales growth has been limited and did not offset weakness in other business lines in Q4. </p><p>The market turbulence comes as Bitcoin Trump family-backed crypto mining operation American Bitcoin reportedly is considering <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-family-backed-crypto-mining" rel="" target="_self" text="null" title="https://cointelegraph.com/news/trump-family-backed-crypto-mining">an initial public offering</a>. </p><p><em><strong>Magazine: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/memecoin-degeneracy-is-funding-groundbreaking-anti-aging-research/" rel="null" target="null" text="null" title="null"><em><strong>Memecoin degeneracy is funding groundbreaking anti-aging research</strong></em></a></p><template data-name="subscription_form" data-type="crypto_biz" label="Subscription Form: Crypto Biz Newsletter"></template><p><br></p><p><br></p></p>
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https://cointelegraph.com/news/bitdeer-t...er_inbound
<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDEvMDE5NDJjZTctZDFjNi03MTBhLTg0YmYtNjg5ZDBkNzk1NjQw.jpg"></p><p><p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDEvMDE5NDJjZTctZDFjNi03MTBhLTg0YmYtNjg5ZDBkNzk1NjQw.jpg" alt="Bitdeer turns to self-mining Bitcoin, US operations amid tariff tumult — Report"></p><p>Bitcoin miner Bitdeer is reportedly expanding its self-mining operations and investing in United States-based production as looming trade wars rock global supply chains and cryptocurrency markets. <p>Bitdeer has begun prioritizing mining Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="https://cointelegraph.com/bitcoin-price">BTC</a>) itself in response to cooling demand for its mining hardware from other miners, Bloomberg <a data-ct-non-breakable="null" href="https://www.bloomberg.com/news/articles/2025-04-15/crypto-firm-bitdeer-prioritizes-mining-to-weather-tariff-turmoil" rel="null" target="null" text="null" title="https://www.bloomberg.com/news/articles/2025-04-15/crypto-firm-bitdeer-prioritizes-mining-to-weather-tariff-turmoil">reported on April 15</a>.</p><p>“Our plan going forward is to prioritize our own self-mining,” Jeff LaBerge, Bitdeer’s head of capital markets and strategic initiatives, reportedly said. </p><p>Additionally, Bitdeer plans to scale US hardware manufacturing in the second half of the year as US President Donald Trump touts plans to penalize foreign imports and promote domestic manufacturing, Bloomberg said.</p><p>“This is something we’ve been planning for a long time,” LaBerge said about the manufacturing plans. “We want to bring jobs and manufacturing back to America.”</p><p>In April, Trump tipped plans for sweeping tariffs on US imports. The Bitcoin network is <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/tariffs-capital-controls-could-disrupt-blockchains-including-bitcoin-execs" rel="null" target="null" text="null" title="null">especially vulnerable to trade barriers</a> since mining hardware involves complex global supply chains.</p><figure><img alt="Bitdeer turns to self-mining Bitcoin, US operations amid tariff tumult — Report" src="https://s3.cointelegraph.com/uploads/2025-04/01963a3d-cb54-7305-b36f-8b5bf1244ea6" title=""><figcaption style="text-align: center;"><p><em>Bitcoin’s hash price is near all-time lows. Source: </em><a data-ct-non-breakable="null" href="https://data.hashrateindex.com/network-data/bitcoin-hashprice-index" rel="nofollow noopener" target="_blank" text="null" title="https://data.hashrateindex.com/network-data/bitcoin-hashprice-index"><em>Hashrate Index</em></a></p></figcaption></figure><p><em><strong>Related: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/tariffs-capital-controls-could-disrupt-blockchains-including-bitcoin-execs" rel="" target="_self" text="null" title="https://cointelegraph.com/news/tariffs-capital-controls-could-disrupt-blockchains-including-bitcoin-execs"><em><strong>Tariffs, capital controls could fragment blockchain networks — Execs</strong></em></a></p><h2>Sector-wide struggles</h2><p>Bitcoin miners — including Bitdeer — <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-miners-languish-crypto-market-rout-jpmorgan" rel="null" target="null" text="null" title="https://cointelegraph.com/news/bitcoin-miners-languish-crypto-market-rout-jpmorgan">have struggled in 2025</a> as volatile crypto markets worsen the impact of the Bitcoin network’s April 2024 halving. </p><p>In February, Bitdeer’s stock dropped by roughly 28% after the Bitcoin miner <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitdeer-stock-drops-28-after-earnings-miss" rel="null" target="null" text="null" title="null">announced lower-than-expected earnings</a> and revenues for the fourth quarter of 2024. </p><p>Bitdeer’s “lower performance compared to Q4 2023 was primarily driven by the impact of the April 2024 halving,” among other factors, Harris Bassett, Bitdeer’s chief strategy officer, <a data-ct-non-breakable="null" href="https://www.investing.com/news/transcripts/earnings-call-transcript-bitdeer-q4-2024-sees-revenue-drop-stock-plummets-93CH-3889507" rel="null" target="null" text="null" title="null">said</a> during Bitdeer’s earnings call. </p><p>Every four years, the amount of BTC mined per “block” — a bundle of transaction data stored on the blockchain — is cut in half. The April 2024 halving reduced mining rewards from 6.25 BTC to 3.125 BTC per block.</p><figure><img alt="Bitdeer turns to self-mining Bitcoin, US operations amid tariff tumult — Report" src="https://s3.cointelegraph.com/uploads/2025-04/0196211f-0c8d-7012-b3d7-66905a9f9aa1" title=""><figcaption style="text-align: center;"><p><em>Bitcoin price versus stocks. Source: </em><a data-ct-non-breakable="null" href="https://www.21shares.com/en-us/research/stablecoins-the-real-powerhouse-of-crypto?utm_campaign=US%20Newsletter&utm_medium=email&_hsenc=p2ANqtz-8SvyB1NiRKkHhlr-aKCrsnLJA58rdDwaXkiNm6bBD--lKh3ypa1M5E1qWqFAeHtjkPaH66tJC0ckMdnyA0iLthanksz1u5g&_hsmi=107486230&utm_content=107486230&utm_source=hs_email" rel="nofollow noopener" target="_blank" text="null" title="https://www.21shares.com/en-us/research/stablecoins-the-real-powerhouse-of-crypto?utm_campaign=US%20Newsletter&utm_medium=email&_hsenc=p2ANqtz-8SvyB1NiRKkHhlr-aKCrsnLJA58rdDwaXkiNm6bBD--lKh3ypa1M5E1qWqFAeHtjkPaH66tJC0ckMdnyA0iLthanksz1u5g&_hsmi=107486230&utm_content=107486230&utm_source=hs_email"><em>21Shares</em></a></p></figcaption></figure><p>Since then, mining revenues and gross profits have dropped by an average of 46% and 57%, respectively, JPMorgan said previously in a research note shared with Cointelegraph. </p><p>Meanwhile, Bitcoin’s hash price — a measure of miner profitability — has sunk to near all-time lows, according to <a data-ct-non-breakable="null" href="https://data.hashrateindex.com/network-data/bitcoin-hashprice-index" rel="null" target="null" text="null" title="null">data</a> from the Hashrate Index. </p><p>In 2024, Bitdeer tried to offset declining mining revenues by selling its own energy-efficient Bitcoin mining rigs. However, sales growth has been limited and did not offset weakness in other business lines in Q4. </p><p>The market turbulence comes as Bitcoin Trump family-backed crypto mining operation American Bitcoin reportedly is considering <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-family-backed-crypto-mining" rel="" target="_self" text="null" title="https://cointelegraph.com/news/trump-family-backed-crypto-mining">an initial public offering</a>. </p><p><em><strong>Magazine: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/memecoin-degeneracy-is-funding-groundbreaking-anti-aging-research/" rel="null" target="null" text="null" title="null"><em><strong>Memecoin degeneracy is funding groundbreaking anti-aging research</strong></em></a></p><template data-name="subscription_form" data-type="crypto_biz" label="Subscription Form: Crypto Biz Newsletter"></template><p><br></p><p><br></p></p>
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https://cointelegraph.com/news/bitdeer-t...er_inbound