Bitdeer Reports 705 BTC Mined, 541% Y/Y Growth and $375M Note
In February 2026 Bitdeer mined 705 BTC, up 541% Y/Y, self-mining hashrate reached 68 EH/s and total hash under management climbed to 79.1 EH/s with SEALMINER rig deployments growing to 70.1 EH/s. The company closed a $375 million senior convertible note, accelerated SEALMINER A4-1 mass production in March and holds advanced HPC colocation talks while its GPU cloud business achieved ~$21 million ARR at 64% utilization.
1. February Mining Performance
In February 2026 Bitdeer mined 705 Bitcoins, up 541% year-on-year, reflecting strong capital investment payoff. Total hash rate under management rose to 79.1 EH/s, with self-mining at 68 EH/s and cloud hash rate at 1.1 EH/s.
2. $375M Convertible Note & Balance Sheet
The company completed a $375 million senior convertible note offering, boosting financial flexibility to accelerate AI and colocation strategies. Management views the strengthened capital structure as key to long-term value creation across high-performance computing and mining operations.
3. SEALMINER Manufacturing & Hashrate Growth
Proprietary hash rate increased to 70.1 EH/s from 65.1 EH/s in January as SEALMINER rig deployments ramped up. SEALMINER A4-1 is on track for mass production in March, while DL1 for Dogecoin and Litecoin remains on schedule for Q1 launch.
4. GPU Cloud and Colocation Developments
GPU cloud services reached ~$21 million ARR at 64% utilization, with plans to raise H100 rates and hit full utilization in March. Advanced negotiations are underway for HPC colocation leases in Norway and Ohio, and U.S. GPU cloud deployments are expected online in Q2 2026.