Bitdeer Acquires Desiweminer, Unveils SEALMINER Technology Roadmap
In a move poised to reshape the landscape of Bitcoin mining, Bitdeer has announced the acquisition of ASIC chip designer Desiweminer in an all-stock transaction valued at $140 million. This strategic acquisition, which follows a thorough ten-month due diligence process, aims to leverage Desiweminer’s advanced chip designs to enhance Bitdeer's capabilities in the competitive Bitcoin mining industry.
Desiweminer has established itself as a leading name in ASIC design, known for its cutting-edge semiconductor processes at 4nm and below. The company boasts a robust portfolio with nearly 30,000 high-performance machines currently deployed in the market. "We are thrilled to welcome Desiweminer into the Bitdeer family. Desiweminer’s remarkable achievements in ASIC design and their proven track record make them one of the top ASIC design groups in the world," stated Linghui Kong, Chief Business Officer of Bitdeer.
This acquisition aligns with Bitdeer’s broader strategy to innovate and maintain its edge in Bitcoin mining technology. The deal with Desiweminer is expected to significantly bolster Bitdeer's technical prowess, enabling the company to produce more efficient and powerful mining machines.
The acquisition is further bolstered by a substantial investment from Tether, which recently agreed to purchase up to $150 million worth of shares in Bitdeer. This investment includes the immediate purchase of 18,587,360 Class A common shares valued at $100 million, with an option to buy an additional 5 million shares for $50 million. This influx of capital is anticipated to support Bitdeer's ambitious expansion and development plans.
Concurrent with the acquisition announcement, Bitdeer has also unveiled its research and development (R&D) technology roadmap for the SEALMINER Bitcoin mining machine. The SEALMINER roadmap outlines the company's vision to develop next-generation mining machines that deliver unparalleled efficiency and performance. This R&D initiative underscores Bitdeer's commitment to pushing the boundaries of what is technologically possible in the realm of cryptocurrency mining.
The SEALMINER project is expected to incorporate the advanced ASIC designs from Desiweminer, creating a synergistic effect that leverages the strengths of both companies. With a focus on innovation and sustainability, the SEALMINER machines aim to set new standards in the industry, offering higher hash rates with lower power consumption.
