Bitdeer Invests $36 Million in First US Sealminer Factory as Bitcoin Mining Margins Stay Tight
Bitdeer has begun construction on a $36 million electronics manufacturing facility in Sparks, Nevada, its first U.S. assembly site for Sealminer machines. The 187,000-square-foot plant is expected to be completed by the end of 2026 and will produce 10,000 Sealminer units per month.
The project will create about 70 local jobs across engineering, technician, and support roles. The facility expands Bitdeer’s U.S. footprint beyond mining and data centers, adding a domestic production base for its proprietary mining hardware.
The timing reflects ongoing pressure on bitcoin mining margins. Spot hashprice recently hovered around $29.81 per PH/s/day, near historic lows, after the April 2024 halving and rising network hashrate reduced revenue per unit of computing power. At these levels, profitability is increasingly concentrated among miners with cheap power and efficient machines.
Bitdeer aims to address this squeeze through vertical integration, developing its own Sealminer hardware and deploying it across its self-mining fleet. The Nevada facility will complement existing data centers and an innovation hub in San Jose, California.
The company is also expanding into AI infrastructure. In its May operating update, Bitdeer reported 70.2 EH/s of self-mining hashrate, 921 bitcoin mined during the month, and approximately $69 million annualized recurring revenue from its AI Cloud business. It is in advanced talks with a potential colocation tenant at its Tydal, Norway site, following an industry trend of miners exploring AI and high-performance computing uses for power-rich data centers.
The factory is expected to begin contributing to manufacturing capacity as weak hashprice slows equipment demand but also encourages well-capitalized miners to replace older machines with more efficient models.