Bitdeer sinks $36M into Nevada plant to build own mining rigs

Bitdeer Technologies Group shares surged 14.1% on Thursday after the Bitcoin mining infrastructure company announced a $36 million manufacturing facility in Sparks, Nevada, where it will produce its SEALMINER mining machines. The stock closed at $14.33, according to Cointelegraph, erasing recent losses even as the stock remains 27% below its June high.

CointelegraphBitdeer shares rise 14% on $36M Nevada manufacturing facility for Bitcoin mining hardware

The expansion marks a strategic shift for Bitdeer: rather than relying on outside manufacturers, the company will build its own hardware on U.S. soil. The new facility is designed to "reduce dependence on third-party suppliers," cryptobreaking.com reported, echoing the company's own language in the announcement.

cryptobreaking.comBitdeer Shares Rise 14% on US Mining Hardware Production Expansion

"reduce dependence on third-party suppliers"

BitRss noted that the facility expands Bitdeer's U.S. production capacity, a move that aligns with a wider industry pivot. As Cointelegraph reported: "The move is part of a broader trend of Bitcoin mining companies diversifying into hardware, AI, and high-performance computing."

BitRssBitdeer stock jumps 14% as company expands US mining hardware production

"The move is part of a broader trend of Bitcoin mining companies diversifying into hardware, AI, and high-performance computing."

Despite the day's rally, Bitdeer's stock is still down more than a quarter from its mid-2024 peak, though it remains up 26% year-to-date, according to Cointelegraph. The Nevada facility represents a significant capital outlay for the company, which is betting that vertical integration will give it an edge in the competitive mining hardware market.