Bitdeer Overtakes Riot as Fifth-Largest Bitcoin Miner After SEALMINER Expansion
Bitdeer (NASDAQ: BTDR) has ramped up its proprietary bitcoin production after energizing another 5 EH/s of SEALMINER rigs, overtaking Riot Platforms (NASDAQ: RIOT) to become the world’s fifth-largest public bitcoin mining operation.
The company said in a Wednesday update that its deployed hashrate rose from 30.3 EH/s in August to 35 EH/s in September—a 15.5% increase that drove bitcoin production up 20.5% month over month, from 375 BTC to 452 BTC.
Adjusting for network difficulty changes, the output implies a jump in realized hashrate from 24.64 EH/s to 32.74 EH/s, or roughly 32.9%. At that scale, Bitdeer now trails only MARA (NASDAQ: MARA), IREN, CleanSpark (NASDAQ: CLSK), and Cango (NYSE: CANG) among public miners by proprietary hashrate.
Bitdeer credited the growth to the continued rollout of its in-house SEALMINER rigs and the completion of new site energizations in Tydal, Norway, and Jigmeling, Bhutan. The company said it remains on track to reach 40 EH/s of self-mining capacity by the end of October, after which it plans to retire older third-party machines to improve fleet efficiency.
The firm has so far manufactured 34.2 EH/s worth of SEALMINER A2 rigs, with 22.6 EH/s already deployed and another 5.5 EH/s in transit. Bitdeer launched the SEALMINER A3 series in September and has begun mass production for self-mining installations starting this month.
In its chip development update, Bitdeer said it has completed the first tape-out of its SEAL04 silicon. Initial testing shows sub-10 J/TH efficiency at the chip level—still above its 5 J/TH target but marking progress toward next-generation performance.
