Bitdeer Stock Climbs Despite Weaker Bitcoin Production In February – Retail Sentiment Still Bearish

Bitdeer Technologies Group (BTDR) shares rose nearly 6% in morning trade Wednesday, tracking gains in the broader market, even as the company reported a decline in Bitcoin production for February.

The stock’s move coincided with fresh U.S. inflation data, which showed consumer prices rising slower than forecast. The consumer price index (CPI) rose 0.2% month-over-month and 2.8% annually, sparking optimism in risk assets.

Bitcoin (BTC) gained 3.2% over the past 24 hours, while Ethereum (ETH) edged up 0.5%, according to CoinGecko data.

Bitdeer mined 110 Bitcoin (BTC) in February, down 12% from the 126 BTC generated in January. 

The company attributed the drop to the shorter month, a trend observed across the industry, including Bitcoin mining peers Marathon Digital (MARA), Core Scientific (CORZ), and Riot Platforms (RIOT).

It said client-hosted mining machines declined by 17,000 units, or 1.7 exahashes per second (EH/s), as customers continued phasing out older, less efficient rigs.

However, Bitdeer said it's expanding its infrastructure, including a 100-megawatt hydro-cooling conversion project in Texas. 

The mass production of its SEALMINER A3 mining machines is expected in the latter half of 2025, while SEALMINER A2 units are being redirected for self-mining due to customer payment delays.

It also highlighted that discussions are ongoing with development partners and potential end users for large-scale high-performance computing (HPC) and artificial intelligence (AI) sites in the U.S. 

Bitdeer also repurchased $9 million in shares and approved a new $20 million buyback program.

Retail sentiment on Stocktwits showed slight improvement, shifting from ‘extremely bearish’ to ‘bearish’ over the past day.

Bitdeer shares are up more than 60% over the past year but have fallen over 50% since the start of 2025.

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