Bitdeer has announced a significant development in the Bitcoin mining industry with the introduction of its research & development (R&D) technology roadmap for the SEALMINER Bitcoin mining rig. The company aims to achieve mass production of highly efficient 5J/TH chips by Q4 2025, supported by strategic investments in R&D.
The SEALMINER initiative is designed to address multiple facets of the Bitcoin mining process. Bitdeer, a leader in the mining sector, acknowledges that transparent advancements in mining rig technology are crucial for miners' success. This transparency will provide miners with greater insight into the Bitcoin hardware lifecycle, technological improvements, timely machine deliveries, and data analytics related to mining machine capabilities, investor behaviors, and equipment inventory.
According to Bitdeer Chief Business Officer Linghui Kong, “We believe that the financial models of Bitcoin miners are significantly impacted by price uncertainty. If these two aspects of transparency are not addressed, the mining community is more likely to suffer severe financial losses.”
The SEALMINER roadmap includes several key milestones. The first, SEAL01, involves the release of a chip with an energy efficiency of 18.1J/TH, which was announced in Q1 2024 and integrated into the SEALMINER A1 mining machine. The next milestone, SEAL02, features an energy efficiency of 14J/TH and is expected to launch in Q3 2024, with mass production and deliveries anticipated by the end of 2024.
Further advancements include the SEAL03 machine, which improves energy efficiency to 10J/TH and is slated for mass production and deliveries in Q2 2025. Lastly, the SEAL04 machine, boasting an energy efficiency of 5J/TH, is expected to launch in Q2 2025, with mass production and deliveries starting in Q4 2025.
Bitdeer’s R&D team, which comprises 25% of the company’s total workforce, is dedicated to advancing specific chip technology applications, including ASIC design, algorithm development, platform architecture, and hardware and software design.
In addition to the SEALMINER roadmap, Bitdeer has experienced significant growth this year, marked by a $150 million private placement by Tether International and the acquisition of fabless crypto ASIC design company Desiweminer. With Q1 revenues of $119.5 million, a 64.6% annual increase, Bitdeer has also seen a 65% rise in the number of bitcoins mined in the first quarter, moving closer to a quarterly threshold of 1,000 bitcoins.
The implications of Bitdeer's SEALMINER roadmap are profound for the Bitcoin mining industry. By enhancing energy efficiency and transparency, Bitdeer aims to mitigate financial risks for miners, promote sustainable practices, and reduce the industry's carbon footprint. This initiative positions Bitdeer at the forefront of technological innovation in one of the most dynamic periods in Bitcoin history.
