February Bitcoin Production Skyrockets 541% Year-Over-Year
Bitdeer Technologies Group (NASDAQ: BTDR) announced it mined 705 BTC in February 2026, a massive 541% increase from the 110 BTC produced in the same month last year. This operational growth was powered by the expansion of its self-mining hashrate, which reached 68 EH/s. The production boost reflects the company's significant capital investments in late 2025 and the successful deployment of its proprietary SEALMINER rigs coming fully online.
AI Pivot Accelerates with $21M Revenue and $375M Funding
Bitdeer is aggressively diversifying from pure-play crypto mining into high-performance computing, with its AI cloud business now generating an estimated $21 million in Annual Recurring Revenue (ARR). The service, which has deployed 2,096 advanced GPUs, is currently operating at a 64% utilization rate. This strategic shift into AI is being financed by a recently completed $375 million senior convertible note offering, providing substantial capital for expansion.
As part of this pivot, the company is converting several of its existing cryptocurrency mining data centers for AI and colocation use. Decommissioning of Bitcoin rigs has already begun at sites in Tydal, Norway, and Wenatchee, Washington, to make room for AI infrastructure, with completion targeted for late 2026.
Bitcoin Holdings Drop to 51 BTC in Strategic Liquidity Move
In a significant balance sheet maneuver, Bitdeer reduced its Bitcoin holdings from 1,530 BTC at the end of January 2026 to just 51 BTC by the end of February. This sale, coupled with the new capital raise, provides the company with significant financial flexibility. Management stated the funds will be used to accelerate its AI and colocation strategy, which it views as the most significant long-term value creation opportunity for the firm as demand for high-performance computing capacity intensifies.
