Bitdeer is expanding its self-mining operations and investing in US production due to declining demand for mining hardware and impending tariffs on imports. The company intends to prioritise self-mining and enhance domestic manufacturing, aiming to create jobs in America. The Bitcoin mining sector faces downturns from market volatility and halving events, with Bitdeer experiencing significant stock losses and declining revenues.
Bitdeer, a notable player in the Bitcoin mining industry, is reportedly shifting its focus towards self-mining operations and investing in production facilities within the United States. This strategic pivot is a response to declining demand for its mining hardware from external miners, as highlighted in a Bloomberg report from April 15. Jeff LaBerge, Bitdeer’s head of capital markets, confirmed that the company’s future strategy will prioritise self-mining of Bitcoin (BTC).
Furthermore, Bitdeer aims to enhance its hardware manufacturing in the US during the latter half of the year. This initiative aligns with US President Donald Trump’s recent advocacy for penalising foreign imports and bolstering domestic manufacturing. “This is something we’ve been planning for a long time,” stated LaBerge, emphasising their commitment to generating jobs and reviving manufacturing in America. These developments come amidst anticipated tariffs that could impact global supply chains crucial for mining operations.
The Bitcoin mining sector, including Bitdeer, has faced challenges in 2025 due to increased market volatility following the Bitcoin network’s halving in April 2024. Bitdeer experienced a significant stock decline of approximately 28% in February, primarily attributable to lower-than-expected earnings for the fourth quarter of 2024. Harris Bassett, the chief strategy officer, explained that the downturn was influenced by various factors, particularly the halving event.
This halving process, which occurs every four years, reduces the mining reward per block from 6.25 BTC to 3.125 BTC, leading to considerable reductions in mining revenue. Consequently, average mining revenues and gross profits dropped by 46% and 57%, respectively, according to research from JPMorgan. Additionally, the Bitcoin hash price, an important indicator of miner profitability, has reached near-historical lows.
In response to the challenging financial landscape, Bitdeer attempted to mitigate declining mining revenues by marketing its energy-efficient mining rigs; however, the sales growth remained insufficient to compensate for weaker performance in other areas during Q4. As the cryptocurrency market continues to fluctuate, the American Bitcoin operation, supported by the Trump family, is also considering an initial public offering.
