Bitdeer

Bitdeer describes itself as "a world-leading technology company for AI and Bitcoin mining infrastructure," according to its fiscal 2025 annual report filed on Form 20-F with the SEC. The company says it handles the full chain of computing infrastructure work for customers, including equipment design, procurement and manufacturing, transport logistics, datacenter design and construction, equipment management and daily operations, and also provides cloud capabilities for customers with high AI demand.^[1]

Bitdeer is headquartered in Singapore and, as of March 31, 2026, operated ten datacenters across the United States, Norway, Bhutan, Ethiopia and Malaysia, the 20-F says, with an aggregate electrical capacity of 1,744.0 MW. The company says it scaled rapidly from five datacenters totaling 795 MW as of March 31, 2023.^[1]

Bitdeer became a Nasdaq-listed company through a business combination with special-purpose acquisition company Blue Safari Group Acquisition Corp., which closed on April 13, 2023, the 20-F says. At that point Bitdeer Technologies Group became the group's ultimate corporate parent and its Class A ordinary shares began trading on Nasdaq under the symbol "BTDR."^[1]

Bitdeer's registered office is Ogier Global (Cayman) Limited in Grand Cayman, the 20-F says, and the company is incorporated in the Cayman Islands even though its principal executive office is in Singapore. As of April 21, 2026, the filing states there were 198,913,731 Class A ordinary shares outstanding, excluding shares reserved for future issuance.^[1]

Bitdeer raised capital directly from Tether: on May 30, 2024 the company entered a private placement with Tether International Limited, issuing Tether 18,587,360 Class A ordinary shares plus a warrant for up to 5,000,000 more shares at an exercise price of US$10.00 per share, according to the 20-F.^[1]

Bitdeer's CEO, Jihan Wu, co-founded Bitmain Technologies Holding Company in 2013 before leaving Bitmain in January 2021, according to the 20-F's management biographies; the filing says he has not held any management role at Bitmain since then. Wu has served on Bitdeer's board since January 2021 and became its Chief Executive Officer in March 2024.^[1]

Bitdeer completed the FreeChain Acquisition on September 13, 2024, issuing 20,000,000 Class A ordinary shares to the sellers as closing consideration, according to the 20-F; some of those shares vest over five or seven years under Bitdeer's 2023 Share Incentive Plan.^[1]

Jihan Wu is Bitdeer's Chief Executive Officer and a director since January 2021, per the 20-F, which lists his principal office address as the company's Singapore headquarters. Wu holds dual bachelor's degrees in Economics and Psychology from Peking University, earned in 2009, and has resided in Singapore since 2019, the filing says.^[1]

Linghui Kong has served as Bitdeer's Chief Business Officer since March 2024, according to the 20-F's management section.^[1]

Bitdeer's largest disclosed strategic investor is Tether: the stablecoin issuer's BVI entity, Tether International Limited, bought newly issued Class A shares and a warrant from Bitdeer in a May 30, 2024 private placement, the 20-F says, making Tether both an investor in and, per the company's revenue disclosures, a related-party customer category.^[1]

Bitdeer's 20-F discloses that its mining customers are sensitive to bitcoin prices: the company says it has "experienced instances where, when Bitcoin prices declined, certain customers requested to delay their final payment for SEALMINERs and requested alternative purchase options for future generations of SEALMINER machines," referring to its self-designed mining rig line.^[1]

Bitdeer reported revenue from four main lines in fiscal 2025: general hosting, membership hosting, cloud hosting arrangements, and AI cloud services, plus an "others" category covering technical and human-resources services and mining-rig repair, according to the 20-F's revenue breakdown table.^[1]

The sources opened for this profile do not name Bitdeer's specific mining or AI-cloud competitors by name. The 20-F discusses general industry pressure, including that declining bitcoin prices reduce demand for new mining rigs industry-wide, without naming rival mining or hosting companies in the text reviewed.^[1]