As per statements from Bitdeer, a publicly-listed mining corporation, the company has enlisted the services of Taiwan Semiconductor Manufacturing Company (TSMC) for its Sealminer A1 mining rigs, scheduled for deployment in the third quarter. Additionally, Bitdeer revealed that it mined 294 bitcoins in March, reflecting a 28.4% increase compared to its earnings in March 2023.
In anticipation of Bitcoin’s upcoming halving, Bitdeer has partnered with TSMC to develop exclusive mining chips.
Following the debut of its internally developed application-specific integrated circuit (ASIC), Bitdeer (Nasdaq: BTDR) has released its March 2024 business update. The announcement highlights the collaboration with Taiwan Semiconductor Manufacturing Company (TSMC) on its unique mining processor, the SEAL01. Established in 1987, TSMC stands as the world’s leading contract chipmaker, playing a crucial role in the semiconductor sector.
Bitdeer reported that as of March 31, it had “committed orders for wafers” from TSMC, expecting the assembly of these rigs to yield $60 million from Sealminer A1 mining equipment. “This amount is subject to further adjustments based on the actual manufacturing expenditure,” the company added. Earlier disclosures indicated that the Sealminer’s semiconductor employs a 4-nanometer (nm) technology.
“We mined a total of 294 bitcoins in March, marking a 2.4% increase from the previous month,” remarked Linghui Kong, Bitdeer’s Chief Business Officer. “As previously announced, our self-mining operations at our Gedu data center faced limitations in the first quarter due to seasonally higher electricity prices. However, we have secured a price of approximately $0.0425 per kWh for the Gedu data center for the remainder of the year starting April 1, 2024.”
This update coincides with a significant rise in ASIC purchases from bitcoin mining rig manufacturers, including Canaan, Bitmain, and Microbt. Furthermore, advancements continue to progress, with Bitmain recently unveiling a device boasting an efficiency of 15 joules per terahash (J/T). Entities have acquired tens of thousands of ASICs in preparation for Bitcoin’s fourth halving event, scheduled between April 18-20, 2024.
What are your thoughts on Bitdeer leveraging TSMC for the company’s new chips? Share your opinions in the comments section below.