Latest news with #MattKong
Bahrain News Gazette
10-03-2025
- Business
- Bahrain News Gazette
Bitdeer Completes Testing of its Latest SEAL03 Bitcoin Mining Chip
Initial prototype tests indicate an exceptional power efficiency ratio of 9.7 J/TH SINGAPORE, March 10, 2025 (GLOBE NEWSWIRE) — Bitdeer Technologies Group (NASDAQ: BTDR) (' Bitdeer ' or the ' Company '), a world-leading technology company for blockchain and high performance computing, today announced the successful testing of its latest Bitcoin mining chip, SEAL03, following tape-out. An exceptional power efficiency ratio of 9.7J/TH – while running at low voltage, ultra power-saving mode – was indicated in the SEAL03 chip's verification and prototype tests, achieving its performance target as outlined in the SEALMINER technology roadmap. SEAL03 uses one of the most advanced process nodes in partnership with TSMC, a world-leading semiconductor foundry. Matt Kong, Chief Business Officer at Bitdeer, commented, 'We are thrilled about SEAL03 achieving a most critical performance milestone following prototype testing. Our unwavering R&D commitment is making possible innovative solutions that are setting new performance benchmarks that will benefit the wider mining ecosystem.' SEAL03 will be integrated into the Company's upcoming SEALMINER A3 series mining machines, with mass production scheduled to commence in the latter half of this year. Additionally, R&D work on the upcoming SEAL04 chip is ongoing in line with the Company's product release roadmap. With a full-fledged team of professional R&D engineers, Bitdeer will continue to work alongside its customers in contributing to the security of the Bitcoin decentralized network. About Bitdeer Technologies Group Bitdeer is a world-leading technology company for blockchain and high-performance computing. Bitdeer is committed to providing comprehensive computing solutions for its customers. The Company handles complex processes involved in computing such as equipment procurement, transport logistics, datacenter design and construction, equipment management, and daily operations. The Company also offers advanced cloud capabilities to customers with high demand for artificial intelligence. Headquartered in Singapore, Bitdeer has deployed datacenters in the United States, Norway, and Bhutan. To learn more, visit or follow Bitdeer on X @ BitdeerOfficial and LinkedIn @ Bitdeer Group. Investors and others should note that Bitdeer may announce material information using its website and/or on its accounts on social media platforms, including X, formerly known as Twitter, Facebook, and LinkedIn. Therefore, Bitdeer encourages investors and others to review the information it posts on social media and other communication channels listed on its website. About SEALMINER SEALMINER, a pioneering brand of Bitcoin mining machines under Bitdeer Technologies Group (NASDAQ: BTDR), specializes in offering efficient and sustainable mining solutions. SEALMINER integrates Bitdeer's self-developed SEAL series of mining chips manufactured using advanced process nodes. By continuously improving power efficiency ratios, SEALMINER is dedicated to providing innovative, efficient, and reliable products and services to customers worldwide. Forward-Looking Statements Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute 'forward-looking statements' within the meaning of The Private Securities Litigation Reform Act of 1995. The words 'anticipate,' 'look forward to,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'target,' 'will,' 'would' and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including factors discussed in the section entitled 'Risk Factors' in Bitdeer's annual report on Form 20-F, as well as discussions of potential risks, uncertainties, and other important factors in Bitdeer's subsequent filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof. Bitdeer specifically disclaims any obligation to update any forward-looking statement, whether due to new information, future events, or otherwise. Readers should not rely upon the information on this page as current or accurate after its publication date. Contacts: Sales Consultations
Associated Press
10-03-2025
- Business
- Associated Press
Bitdeer Completes Testing of its Latest SEAL03 Bitcoin Mining Chip
SINGAPORE, March 10, 2025 (GLOBE NEWSWIRE) -- Bitdeer Technologies Group (NASDAQ: BTDR) ('Bitdeer' or the 'Company'), a world-leading technology company for blockchain and high performance computing, today announced the successful testing of its latest Bitcoin mining chip, SEAL03, following tape-out. An exceptional power efficiency ratio of 9.7J/TH - while running at low voltage, ultra power-saving mode - was indicated in the SEAL03 chip's verification and prototype tests, achieving its performance target as outlined in the SEALMINER technology roadmap. SEAL03 uses one of the most advanced process nodes in partnership with TSMC, a world-leading semiconductor foundry. Matt Kong, Chief Business Officer at Bitdeer, commented, 'We are thrilled about SEAL03 achieving a most critical performance milestone following prototype testing. Our unwavering R&D commitment is making possible innovative solutions that are setting new performance benchmarks that will benefit the wider mining ecosystem.' SEAL03 will be integrated into the Company's upcoming SEALMINER A3 series mining machines, with mass production scheduled to commence in the latter half of this year. Additionally, R&D work on the upcoming SEAL04 chip is ongoing in line with the Company's product release roadmap. With a full-fledged team of professional R&D engineers, Bitdeer will continue to work alongside its customers in contributing to the security of the Bitcoin decentralized network. About Bitdeer Technologies Group Bitdeer is a world-leading technology company for blockchain and high-performance computing. Bitdeer is committed to providing comprehensive computing solutions for its customers. The Company handles complex processes involved in computing such as equipment procurement, transport logistics, datacenter design and construction, equipment management, and daily operations. The Company also offers advanced cloud capabilities to customers with high demand for artificial intelligence. Headquartered in Singapore, Bitdeer has deployed datacenters in the United States, Norway, and Bhutan. To learn more, visit or follow Bitdeer on X @ BitdeerOfficial and LinkedIn @ Bitdeer Group. Investors and others should note that Bitdeer may announce material information using its website and/or on its accounts on social media platforms, including X, formerly known as Twitter, Facebook, and LinkedIn. Therefore, Bitdeer encourages investors and others to review the information it posts on social media and other communication channels listed on its website. About SEALMINER SEALMINER, a pioneering brand of Bitcoin mining machines under Bitdeer Technologies Group (NASDAQ: BTDR), specializes in offering efficient and sustainable mining solutions. SEALMINER integrates Bitdeer's self-developed SEAL series of mining chips manufactured using advanced process nodes. By continuously improving power efficiency ratios, SEALMINER is dedicated to providing innovative, efficient, and reliable products and services to customers worldwide. Forward-Looking Statements Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute 'forward-looking statements' within the meaning of The Private Securities Litigation Reform Act of 1995. The words 'anticipate,' 'look forward to,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'target,' 'will,' 'would' and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including factors discussed in the section entitled 'Risk Factors' in Bitdeer's annual report on Form 20-F, as well as discussions of potential risks, uncertainties, and other important factors in Bitdeer's subsequent filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof. Bitdeer specifically disclaims any obligation to update any forward-looking statement, whether due to new information, future events, or otherwise. Readers should not rely upon the information on this page as current or accurate after its publication date. Contacts: Public Relations BlocksBridge Consulting Nishant Sharma
Yahoo
26-02-2025
- Business
- Yahoo
Bitdeer Technologies Group (BTDR) Reports Revenue Decline, Focuses on AI & HPC Expansion
We recently compiled a list of the . In this article, we are going to take a look at where Bitdeer Technologies Group (NASDAQ:BTDR) stands against the other AI stocks. Just as the AI industry was catching up with the launch of the DeepSeek AI R1 model in January, sources divulged that the Hangzhou-based company is planning to release the R2 model as early as possible. The company was previously aiming to launch the R2 model in May. DeepSeek expects the R2 model to exhibit better coding and reasoning capabilities in multiple languages. The R1 model, which was built cost-effectively using relatively less powerful GPUs, triggered a $1 trillion sell-off in US and European markets. The speculation around the R2 model could potentially drive further volatility in America's AI landscape as investors question the narrative that US-based AI companies require hundreds of billions of dollars to develop AI systems. "The launch of DeepSeek's R2 model could be a pivotal moment in the AI industry. DeepSeek's success at creating cost-effective AI models would likely spur companies worldwide to accelerate their own efforts ... breaking the stranglehold of the few dominant players in the field." -said Vijayasimha Alilughatta, COO Zensar. We selected AI stocks by reviewing news articles, stock analysis, and press releases. We listed the stocks in ascending order of their hedge fund sentiment taken from Insider Monkey's database of over 1000 hedge funds. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). A construction team in a mining datacenter building work site with plans and equipment in hand. Bitdeer Technologies Group (NASDAQ:BTDR) offers blockchain and HPC solutions. The company's crypto-mining solutions include data center design, equipment procurement, and hosting services. Bitdeer AI, part of Bitdeer Technologies Group (NASDAQ:BTDR), provides AI cloud services for developers to train and scale AI and HPC workloads through AI infrastructure supported by the NVIDIA DGX SuperPOD with H100 GPUs, DDN Storage, and InfiniBand Networks. On February 25th, Bitdeer Technologies Group (NASDAQ:BTDR) posted a drop in year-over-year (YoY) revenue for Q4 to $69 million from $114.8 million. The company's loss per share in Q4 also increased YoY to $3.22 per share from $0.05. Bitdeer's chief business officer, Matt Kong, attributed the results to limited hashrate growth as the company focused more on the development of proprietary ASIC technology. 'In terms of our energy assets, our global power capacity now exceeds 2.6 GWs, following the Foxcreek, Alberta acquisition, and over 1 GW is scheduled to be energized over the course of 2025. This puts us in an advantageous position to deploy our SEALMINER machines for self-mining and also capitalize on the significant demand for HPC and AI datacenters. We are actively working with top datacenter developers and advisors to establish long-term partnerships, which will position Bitdeer to play a significant role in addressing the shortage of reliable power for AI datacenters.' -said Matt Kong, Chief Business Officer at Bitdeer Technologies Group. Overall BTDR ranks 2nd on our list of AI stocks that investors likely missed. While we acknowledge the potential of BTDR as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BTDR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey.
