Bitdeer Mining Insights

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Bitdeer (Nasdaq: BTDR) reported full-year 2025 revenue of $620.3M, with Q4 revenue surging 226% YoY to $224.8M and achieving a net profit of $70.5M. The growth was driven by the mass deployment of proprietary SEALMINERs, pushing self-mining hashrate past 55 EH/s. CBO Matt Kong highlighted a "strategic inflection point," as Bitdeer leverages its 3.0 GW power portfolio to address the global AI infrastructure shortage through dual-track colocation and GPU-as-a-service strategies.

Morgan Stanley initiated coverage of Bitcoin miners on Monday, favoring firms pivoting toward AI infrastructure. Analyst Stephen Byrd assigned "Overweight" ratings to Cipher Mining (CIFR) and TeraWulf (WULF), with price targets of $38 and $37, respectively. Marathon Digital (MARA) was rated "Underweight" with an $8 target. The bank argues that miners with long-term data center leases should be valued as steady infrastructure assets rather than volatile crypto bets, highlighting WULF’s power-dense sites as key for predictable cash flow.

Bitcoin network difficulty plummeted 11.16% to 125.86 T at block 935,429, marking the steepest decline since China’s 2021 mining ban. The drop follows widespread North American miner curtailments due to Winter Storm Fern and a significant price pullback. While the reset offers temporary relief for active miners, the next adjustment on February 20 is projected to rise by approximately 5.63% to 132.96 T.

TeraWulf rose 11% in pre-market trading Tuesday following the acquisition of two industrial sites in Kentucky and Maryland. The move more than doubles its capacity to 2.8 GW. This expansion is designed to meet surging demand for AI and large-scale data workloads. As crypto miners pivot toward AI infrastructure, TeraWulf is leveraging its high-voltage power access to accelerate the deployment of next-generation computing hubs.

Bit Digital, an Ethereum-focused treasury firm backed by Brock Pierce, announced plans to fully wind down its Bitcoin mining operations as it deepens its focus on Ethereum and artificial intelligence infrastructure. In a letter to shareholders, CEO Sam Tabar said Bitcoin mining has become a less efficient use of capital compared with opportunities offering yield generation and operational leverage. The company has consolidated its digital asset exposure into Ethereum and expanded its AI footprint through its majority stake in WhiteFiber. Founded as a Bitcoin miner in 2020, Bit Digital began accumulating and staking ETH in 2022 and launched Bit Digital AI in 2023, positioning itself early in the sector’s shift toward high-performance computing.