Bitdeer Expands into Ethiopia, Pauses Disclosure of Bitcoin Chip Capacity

Bitdeer (NASDAQ: BTDR) has entered into a purchase agreement to acquire a Bitcoin mining partner in Ethiopia, formalizing its expansion into the East African nation, which is emerging as a mining hotspot.

The company disclosed the transaction in its March 2025 production update, stating it had signed a turnkey agreement to acquire and build a 50-megawatt Bitcoin mining project in Ethiopia for $7.5 million.

The acquisition includes an unnamed local Ethiopian company that holds a mining permit. Bitdeer noted that the local partner has secured a Power Purchase Agreement (PPA) with the Ethiopian Electric Power Company for a four-year term at an electricity rate of approximately US$0.036 per kWh. Bitdeer expects the project to be energized in Q4.

As previously reported, Ethiopia is gaining attention as a promising location for Bitcoin mining, fueled by its abundant and affordable hydroelectric power and increasing interest from international mining firms.

In tandem with the acquisition news, Bitdeer announced it will pause monthly disclosures of its chip wafer capacity, citing a “comprehensive consideration for maximizing shareholders’ value.”

Bitdeer had previously disclosed wafer capacity as an indicator of how many chips it could potentially produce for its mining rigs—a metric aimed at improving transparency in the mining hardware market.

“These disclosures were previously provided to assist potential mining rig buyers in making informed decisions. However, due to current market uncertainty and a significant slowdown in mining rig demand, disclosing total capacity is no longer considered useful,” the company said.