Bitdeer Stock Surges 14% as Company Expands US Mining Hardware Production

Bitdeer Technologies Group's stock jumped 14% on Thursday after the company announced a $36 million manufacturing facility in Nevada. This expansion will enable Bitdeer to produce key mining hardware components, reducing its reliance on third-party suppliers for Bitcoin (BTC) mining machines.

The new plant will assemble the SEALMINER line of mining machines and is expected to begin commercial production by the end of the year. Bitdeer CEO Catherine Guo credited Nevada Governor Joe Lombardo's administration with providing tax incentives to secure the company's operations in the state.

Bitdeer has expanded its business into AI cloud services and high-performance computing, but the new facility will focus on manufacturing Bitcoin mining hardware. The investment comes as several large Bitcoin mining companies diversify beyond cryptocurrency mining by expanding into AI and high-performance computing.