Key Highlights
- Bitdeer shares jumped over 9% after announcing a $36 million factory in Nevada.
- The new U.S. facility will produce up to 10,000 SEALMINER mining units each month.
- Bitdeer continues its expansion after selling all its Bitcoin holdings and planning a $300 million fundraising.
Bitdeer Technologies Group (NASDAQ: BTDR) saw its shares climb by over 9% during early trading hours on Thursday after announcing a $36 million investment to build a new electronics manufacturing facility in Sparks, Nevada.
According to an official release, the company broke ground on the project, which it said will become its first manufacturing and assembly site in the United States. Once completed, the plant is expected to produce up to 10,000 SEALMINER mining hardware units every month.
Bitdeer shares jump after announcement
Shortly after the announcement, Bitdeer’s stock surged up to $13.73, up from an intraday low of around $12.76. Trading volume reached approximately 10.66 million shares, while the company’s market capitalization increased to more than $3.36 billion.
Why Bitdeer is building mining hardware in the US
According to Bitdeer, the new facility will cover 187,000 square feet and is expected to be completed by the end of 2026. The company said the $36 million investment will pay for the construction of the building, production equipment, and other parts of the project. The Nevada factory will work alongside the company’s existing U.S. data centers and its innovation hub in San Jose, California, giving Bitdeer a stronger manufacturing base inside the country.
Bitdeer said making its mining machines in the United States will help it improve its supply chain and deliver products to customers more efficiently. Building the hardware closer to where it is needed could also reduce delays and give Bitdeer more control over production as demand for mining equipment grows.
Project expected to create jobs
Bitdeer expects the project to create around 70 jobs in Northern Nevada, including roles in engineering, skilled technicians, and support staff. The company said the project will also provide opportunities for people who are just starting their careers and will support the area’s growing electronics manufacturing industry.
The investment was also welcomed by local economic officials. Taylor Adams, President and CEO of the Economic Development Authority of Western Nevada, said the project brings advanced manufacturing, skilled jobs, and long-term investment to the region.
He added that Bitdeer’s focus on building products in the U.S., developing workers, and supporting the local community could help strengthen Northern Nevada’s technology industry.
Expansion follows Bitdeer’s broader growth strategy
Bitdeer has been reshaping its business. Earlier this year, the company disclosed that it had sold all of its Bitcoin holdings, leaving its treasury with zero BTC.
At them, the company has initially mined 189.8 BTC and sold every coin it produced. It also sold another 943.1 BTC from its existing reserves. This was unusual because many Bitcoin mining companies normally keep part of their Bitcoin in case prices rise in the future.
Separately, earlier this year, Bitdeer announced plans to raise $300 million through convertible senior notes, with the option to increase the offering by another $45 million. The company said the funds will be used to expand its data centers, grow its AI cloud business, develop more mining hardware, and support other business operations.
Together with the new Nevada factory, these moves show Bitdeer is putting more resources into expanding its technology and manufacturing business in the United States.
Also Read: Oman’s Mandatory Bitcoin Mining Pool Trades Miner Freedom for State Control
