Bitdeer shifts to self-operated mining business, entering competition with its clients

Jinse Finance reported, citing Bloomberg, that Nasdaq-listed Bitdeer Technologies Group, under the leadership of founder Jihan Wu, is transforming from a mining machine manufacturer into a large-scale proprietary Bitcoin mining company. According to the latest filings, the company’s proprietary mining hashrate has quadrupled since August last year, with the goal of ranking among the world’s top five crypto mining enterprises. This means Bitdeer is now directly competing with its own clients in response to a slowdown in mining machine demand.