Bitdeer Technologies Group's (BTDR) stock surged 11.13% in the pre-market trading session on Thursday, December 5th, 2024. The rally was driven by the company's bullish November 2024 production and operations update, which highlighted strong demand for its cutting-edge SEALMINER A2 mining rigs and significant progress on its infrastructure expansion plans.

Bitdeer announced that it has increased the anticipated mass production of its SEALMINER A2 mining rigs to approximately 35 EH/s through Q3 2025, up from the previous estimate of 18 EH/s. The initial allocation of around 30,000 units (~7 EH/s) for external sales has been fully reserved by customers, reflecting robust industry demand for advanced technology and a diversified supply chain.

Furthermore, the company is on track to bring 1.1 GW of new power capacity online in 2025, supporting its mining operations growth. Bitdeer also closed a $400 million convertible senior notes offering in November, with the proceeds earmarked for datacenter expansion, ASIC-based mining rig development and manufacturing, as well as working capital and general corporate purposes.