Bitdeer to Auction S19 Bitcoin Miners Starting at $1/TH/s

Bitcoin mining, hosting, and cloud mining giant Bitdeer (NASDAQ: BTDR) has scheduled an auction for 2,880 units of used Antminer S19s located in Norway as part of its plan to upgrade its fleet following the bitcoin halving.

Web archives indicate that Bitdeer recently announced the auction for used S19 Antminers with a nameplate hashrate of 270 PH/s. The starting bid is $270,000, equating to $1/TH/s.

The auction is scheduled to run from Sep. 24 to Sep. 26, with expected shipment in mid-October. Bitdeer procured these machines between December 2020 and May 2021 and deployed them at its facility in Tydal, Norway.

In conjunction with the auction, Bitdeer has made public the operational dashboard for these units, showing a real-time hashrate of 250 PH/s, approximately 8% below the nameplate capacity. With an efficiency of 30 J/TH, Bitmain’s Antminer S19 has a breakeven power price of $0.055/kWh in the current low Bitcoin hashprice environment of $40/PH/s.

The auction coincides with Bitdeer’s plans to deliver and energize its proprietary SEALMINER A1, incorporating a Texas hydro-cooling conversion and simultaneous expansion of the Tydal facility.

In its August production update, Bitdeer asserted that the mass production of SEALMINER A1 “remains on track to be completed in Q4” and is expected to add 3.4 EH/s to its proprietary hashrate.

Additionally, the August update indicated that Bitdeer anticipates energizing a 40-megawatt (MW) expansion at its Tydal site in Q4 and converting 100 MW of capacity in Rockdale, Texas, to hydro-cooling between December 2024 and February 2025.

Earlier this year, Bitdeer acquired the owners of the land it had been renting to run two bitcoin mining sites in Norway in a deal worth over $30 million.