Bitcoin mining company Bitdeer is integrating high-performance computing and AI while prioritizing transparency to revolutionize the mining industry. With U.S. presidential candidate Donald Trump’s ambitious plans to mine all future Bitcoin in the U.S., Bitcoin mining has become crucial in his bid for the presidency.
Talks of crypto and Bitcoin mining are dominating political campaigns. The marriage of Bitcoin mining with technologies like Artificial Intelligence (AI) and high-performance computing (HPC) is reshaping the industry.
Publicly traded miners are exploring these technologies to diversify revenue streams and ensure sustainable growth. Bitdeer, a Singapore-headquartered Bitcoin mining company, has emerged as a standout in this competitive field.
A recent Cantor report indicates Bitdeer plans to add 1,079MW of power to its data centers. This expansion underscores Bitdeer’s ambition to become one of the largest data centers globally.
Managing conflicts of interest
Bitdeer emphasized the importance of transparency in managing potential conflicts of interest. AI companies purchasing Bitcoin mining equipment can lead to transparency flaws in ownership and control structures.
“We believe that keeping our contracts and terms specific and transparent allows us to manage potential conflicts of interest,” LaBerge said. Contracts detail electricity usage and payment terms.
To ensure transparency, Bitdeer manages and operates mining rigs, monitoring utilization, hash rate, and power consumption accurately.
Proprietary vs. Hosted Mining
Bitdeer employs proprietary mining methods to boost efficiency and profitability. Various services in Bitcoin mining optimize resource allocation and reduce market volatility risks.
“Our diversified verticals in the Bitcoin mining segment allow us to mitigate volatility and facilitate growth during different market cycles,” LaBerge noted. Bitdeer’s commitment to transparency is evident in its “SEAMLINER” technology roadmap.
LaBerge highlighted that Bitdeer produces the most efficient rigs, offering significant energy savings. Vertical integration in rig design provides a CapEx advantage over competitors.
AI implementation and R&D Focus
Contrary to assumptions, Bitdeer has not implemented AI as an enabling technology at their sites. The company focuses on improving computing hardware efficiency.
“Bitdeer is committed to improving the efficiency of computing hardware used in our data centers,” LaBerge said. “25% of employees are dedicated to R&D efforts, focused on chip design.”
Nvidia’s computing capability
Leveraging Nvidia’s capabilities, Bitdeer is transitioning to High-Performance Computing (HPC) data centers. Bitdeer’s expertise in cloud computing and data center development is enhancing its competitive edge.
“With over 2 gigawatts of contracted power, Bitdeer is well-positioned to capitalize on future market opportunities,” LaBerge said. “Becoming the first preferred cloud service provider in Asia by NVIDIA in Q4 2023 is a testament to this expertise.”
