Reports indicate that Bitcoin mining firm Bitdeer is intensifying its focus on its own mining ventures, coupled with increased investment in domestic production within the United States. This strategic move occurs amidst growing concerns about potential disruptions to global supply networks and turbulence within the cryptocurrency market arising from possible trade conflicts.
According to a report published by Bloomberg on April 15th, Bitdeer is shifting its attention towards mining Bitcoin (BTC) directly. This decision is primarily driven by a decrease in external demand for the company’s mining equipment.
Jeff LaBerge, the head of capital markets and strategic initiatives at Bitdeer, reportedly stated, “Our future strategy involves prioritizing our own in-house mining activities.”
Furthermore, as Bloomberg reports, Bitdeer intends to increase its U.S.-based hardware manufacturing capacity during the latter half of the year. This expansion aligns with the U.S. President’s public emphasis on imposing tariffs on imported goods and encouraging domestic manufacturing.
Concerning the manufacturing strategy, LaBerge commented, “This has been a long-term plan for us. Our aim is to create jobs and revitalize manufacturing within the United States.”
In April, the President publicly discussed potential broad tariffs on imported products. The Bitcoin network, particularly, is vulnerable to trade restrictions due to the complex global supply chains involved in mining hardware production.
Bitcoin’s hash price is approaching record lows. Source: Hashrate Index
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Industry-Wide Challenges
The Bitcoin mining sector, including firms like Bitdeer, faced difficulties throughout 2025. The volatile crypto market and the 2024 Bitcoin halving event have had a combined negative effect.
In February, Bitdeer’s stock price experienced a significant decline of approximately 28%. This followed the company’s report of earnings and revenues that fell short of expectations for the fourth quarter of 2024.
Harris Bassett, Bitdeer’s chief strategy officer, explained during the earnings conference call that the lower performance, when compared to the fourth quarter of 2023, was mainly attributable to the impact of the April 2024 halving, in addition to several other contributing factors.
The “halving” event, which occurs every four years, reduces the amount of BTC awarded per block mined – a unit of transaction data stored on the blockchain – by 50%. Following the April 2024 halving, the block reward dropped from 6.25 BTC to 3.125 BTC.
Bitcoin price compared to stock performance. Source: 21Shares
JPMorgan, in a research note previously shared with Cointelegraph, indicated that mining revenues and gross profits have experienced average decreases of 46% and 57%, respectively, since the halving event.
Meanwhile, according to data from the Hashrate Index, Bitcoin’s hash price – an indicator of miner profitability – has declined close to its lowest levels ever.
During 2024, Bitdeer attempted to mitigate declining mining revenue by selling its own line of energy-efficient Bitcoin mining hardware. However, the sales growth was limited and insufficient to offset the weaknesses in other business areas during the fourth quarter.
This period of market volatility coincides with reports that American Bitcoin, a crypto mining operation with ties to the Trump family, is considering a potential initial public offering (IPO).
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