Bitdeer Unveils SEALMINER Technology Roadmap, Committed to Enhancing Transparency in the Mining Industry
Bitdeer Technologies Group (Nasdaq: BTDR) has unveiled its R&D roadmap for the SEALMINER Bitcoin mining machine, reinforcing its commitment to transparency in the mining industry. The roadmap includes the mass production of ultra-efficient 5J/TH chips by Q4 2025. Key milestones include:
1. SEAL01 with 18.1J/TH energy efficiency, to be delivered in Q3 2024.
2. SEAL02 with 14J/TH energy efficiency, expected in Q4 2024.
3. SEAL03 with 10J/TH energy efficiency, slated for Q2 2025.
4. SEAL04 with breakthrough 5J/TH energy efficiency, planned for Q4 2025.
Bitdeer emphasizes the importance of providing data analytics for mining machine capabilities, equipment inventory, and collective purchasing behavior to mitigate financial uncertainties for miners. The company is dedicated to continuous R&D investments to enhance long-term competitiveness.
- Bitdeer plans to release highly efficient Bitcoin mining chips, with SEAL04 reaching 5J/TH by Q2 2025.
- SEALMINER A1, Bitdeer's first mining machine, will be integrated with SEAL01 chips and delivered in Q3 2024.
- Future SEALMINER models (SEAL02, SEAL03) show progressive improvements in chip energy efficiency, boosting operational performance.
- Bitdeer's roadmap addresses transparency in technology advancements and delivery timelines, aiding financial planning for miners.
- Ongoing R&D investments to ensure competitive edge and innovation in blockchain and high-performance computing sectors.
- High dependency on successful execution and timely delivery of new products could pose risks if deadlines are missed.
- Significant capital investment in R&D might strain financial resources if not matched by corresponding revenue growth.
- Operational challenges in mass-producing and integrating advanced chips may impact delivery timelines and market confidence.
Insights
The announced technology roadmap for the SEALMINER series demonstrates Bitdeer's aggressive stance towards advancing their mining machinery capabilities. The improvements in energy efficiency from 18.1J/TH in Q1 2024 to a projected 5J/TH by Q2 2025 signal significant advancements in technology. This could potentially lower operational costs for Bitcoin miners, making Bitdeer's machines more attractive. However, the roadmap also highlights heavy R&D investment requirements, which may strain financials in the short term. Investors should note that the success of these initiatives hinges on the timely delivery and market adoption of these new machines. The impact on Bitdeer's revenues and margins should be carefully monitored.
The introduction of chips with increasing energy efficiency (from 18.1J/TH to 5J/TH) suggests substantial technological progress. The anticipated lower energy consumption means miners could significantly reduce electricity costs, which are a major expense in crypto mining. The rapid development schedule also indicates Bitdeer's robust capabilities in chip design and manufacturing. However, achieving such ambitious targets involves considerable technical risks and potential delays. As innovations in mining hardware are important for maintaining competitive edges, Bitdeer's advancements could potentially reshape the industry standards, provided they deliver as promised.
The commitment to enhancing transparency by disclosing a detailed technology roadmap is a strategic move to build trust within the mining community. By providing clear timelines and efficiency metrics, Bitdeer addresses miners' concerns about future advancements and operational costs. This transparency could be a differentiator in a market often plagued by opacity. Nonetheless, the success of this strategy depends on Bitdeer's ability to meet its milestones. Failure to deliver on these promises could damage its credibility. Additionally, as the competitive landscape evolves, continual innovation will be essential to maintaining market leadership.
Expects to mass produce innovative ultra efficient 5J/TH chips by Q4 2025 with investments in R&D
SINGAPORE, June 07, 2024 (GLOBE NEWSWIRE) -- Bitdeer Technologies Group (Nasdaq: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for blockchain and high-performance computing, today announced its research & development (R&D) technology roadmap for the SEALMINER Bitcoin mining machine. This disclosure reaffirms the Company’s ongoing commitment towards driving greater transparency in the mining industry.
In the dynamically evolving mining market, two aspects of transparency are particularly crucial for miners. Firstly, miners’ expectations of future technological advancements and delivery timelines of mining machines; Secondly, access to data analytics of mining machine capabilities, equipment inventory, and collective purchasing behavior.
“Bitdeer has a long term commitment towards enhancing transparency in our industry. We believe that the financial models of Bitcoin miners are significantly impacted by price uncertainty. If these two aspects of transparency are not addressed, the mining community is more likely to suffer severe financial losses. Thus, we are pleased to narrow this information gap by disclosing our R&D technology roadmap for SEALMINER,” said Linghui Kong, Chief Business Officer of Bitdeer.
The SEALMINER’s technology roadmap and product release milestone is as follows:
SEAL01 - Chip energy efficiency 18.1J/TH, released in Q1 2024
Previously announced in March 2024, Bitdeer’s 4nm process Bitcoin mining chip SEAL01 has an energy efficiency of 18.1J/TH. SEAL01 has been seamlessly integrated into the SEALMINER A1 mining machine. As Bitdeer’s inaugural mining machine, the SEALMINER A1 is expected to have a wall-mount power consumption between 20J/TH and 23J/TH. The first batch is expected to be mass-produced and delivered in Q3 2024.
SEAL02 - Chip energy efficiency expected to be 14J/TH, planned for release in Q3 2024
The SEAL02 chip is scheduled to be launched in Q3 2024, with an expected chip energy efficiency of 14J/TH. The optimization of the mining machine's wall-mount power consumption is expected to be in the range of 15J/TH to 16.5J/TH. The second-generation SEALMINER mining machine is expected to be mass-produced and delivered starting in Q4 2024.
SEAL03 - Chip energy efficiency expected to be as low as 10J/TH, planned for release in Q4 2024
Planned for launch in Q4 2024, SEAL03 has an expected chip energy efficiency of 10J/TH with the mining machine's optimized wall-mount power consumption expected to be in the range of 11J/TH to 12J/TH. The third-generation SEALMINER mining machine is expected to be mass-produced and delivered in Q2 2025.
SEAL04 - Chip energy efficiency expected to breakthrough to 5J/TH, planned for release in Q2 2025
Slated for launch in Q2 2025, the SEAL04 chip is expected to have a chip energy efficiency of as low as 5J/TH. The optimization of the mining machine's wall-mount power consumption is expected to be in the range of 5.5J/TH to 6J/TH. The fourth-generation SEALMINER mining machine is planned for mass-produced with expected delivery starting in Q4 2025.
Bitdeer has a full fledged team of professional engineers dedicated to R&D across key domains, including ASIC design, algorithm development, platform architecture, software and hardware. The Company will continue to invest in R&D to enhance its long-term competitiveness, offering efficient, sustainable and reliable products and services. It will continue to work alongside its customers in contributing to the security of the Bitcoin decentralized network.
Roadmap website：https://www.bitdeer.com/sealminer/roadmap
About Bitdeer Technologies Group
Bitdeer is a world-leading technology company for blockchain and high-performance computing. Bitdeer is committed to providing comprehensive computing solutions for its customers. The Company handles complex processes involved in computing such as equipment procurement, transport logistics, datacenter design and construction, equipment management, and daily operations. The Company also offers advanced cloud capabilities to customers with high demand for artificial intelligence. Headquartered in Singapore, Bitdeer has deployed datacenters in the United States, Norway, and Bhutan. To learn more, visit https://ir.bitdeer.com/ or follow Bitdeer on X @ BitdeerOfficial and LinkedIn @ Bitdeer Group.
Investors and others should note that Bitdeer may announce material information using its website and/or on its accounts on social media platforms, including X, formerly known as Twitter, Facebook, and LinkedIn. Therefore, Bitdeer encourages investors and others to review the information it posts on the social media and other communication channels listed on its website.
Forward-Looking Statements
Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. The words “anticipate,” “look forward to,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including factors discussed in the section entitled “Risk Factors” in Bitdeer’s annual report on Form 20-F, as well as discussions of potential risks, uncertainties, and other important factors in Bitdeer’s subsequent filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof. Bitdeer specifically disclaims any obligation to update any forward-looking statement, whether due to new information, future events, or otherwise. Readers should not rely upon the information on this page as current or accurate after its publication date.
Contacts
marketing@bitdeer.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ccb07ee0-abe3-4b31-8d25-bbbc04d51085
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