Bitdeer to Increase US Mining as Tariff Suspension Opens Trading Window: Report

Bitdeer Technologies Group intends to take advantage of the 90-day suspension of US tariffs to import mining equipment from Southeast Asia to the US.

Bitdeer, a Nasdaq-listed Bitcoin (BTC) mining company founded by cryptocurrency magnate Jihan Wu, is facing declining profitability and falling demand for Bitcoin mining hardware, according to Bloomberg.

As a result, the Singapore-based company is deciding to mine itself rather than sell its machines to other operators. It also plans to start production in the US in light of Trump's tariff policies.

“Going forward, we are going to focus on our own cryptocurrency mining,” said Jeff Laberge, head of capital markets and strategic initiatives at Bitdeer.

The move comes as Bitcoin's hash rate, a measure of mining profitability, remains near historic lows following last year's halving event that reduced block rewards. At the same time, U.S. tariffs under President Trump's trade policies are disrupting the supply chain for rigs mostly made in Asia.

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Made in the USA

Bitdeer also plans to begin manufacturing in the US in the second half of 2025, aiming to reduce its reliance on overseas manufacturing and create jobs in the country.

Although chips from Taiwan's TSMC are currently duty-free, the company is bracing for possible price increases.

Some customers have delayed orders for drilling rigs, forcing Bitdeer to redirect inventory to its own facilities in Bhutan and Norway.

The company currently operates about 900 megawatts of mining capacity worldwide and plans to increase it to 2.6 gigawatts by 2026.

The company is also expanding into new markets, including Canada and Ethiopia, and adapting its data centers in Texas and Ohio to support artificial intelligence and high-performance computing.

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Source: cryptonews.net