Bitcoin miner Bitdeer continues to pull ahead of Cipher in mining-to-AI conversion and diversification strategy.

Bitdeer Technologies (BTDR) saw shares jump more than 10% in early trading following the announcement that the Bitcoin miner and AI infrastructure company mined 990 BTC in June—its best month ever and nearly five times the 203 BTC it mined in the same month a year prior. The update highlighted how significantly Bitdeer has pulled ahead of competitor Cipher Digital (CIFR), whose hash rate has been shrinking as it winds down Bitcoin mining to pivot toward AI data center operations.

The company's self-mining hash rate reached 73.0 EH/s, compared to 70.2 EH/s in May and 16.5 EH/s in June 2025, positioning Bitdeer as one of the fastest scaling miners in the industry. A higher hash rate translates to more computing power deployed toward Bitcoin mining, typically resulting in increased monthly coin production. Bitdeer's 73.0 EH/s now exceeds six times Cipher's remaining capacity of approximately 11.6 EH/s as of its Q1 2026 earnings call, down from roughly 23.6 EH/s at the end of Q4 2025. While Bitdeer continues scaling Bitcoin mining alongside its AI Cloud business, Cipher expects mining to be immaterial by 2030.

During midday trade, BTDR stock was trading at $12.56. On Stocktwits, retail sentiment around BTDR remained in the neutral zone with normal chatter levels over the previous day.

The production update also underscored momentum in Bitdeer's AI pivot. AI Cloud's annualized recurring revenue rose to approximately $76 million at 95% GPU utilization, up from $69 million at 90% utilization in May. The company delivered its first NVIDIA GB300 NVL72 clusters under a five-year GPU cloud sales contract, placing it on par with hyperscalers deploying NVIDIA's latest AI hardware. CFO Michael G. Potter remarked that "June reflected continued execution across the company's AI platform," while adding that GB300 deliveries reinforced its enterprise-grade capabilities.

Bitdeer has secured a new 10-year lease on a data center in Johor Bahru, Malaysia, providing 21.7 megawatts of IT capacity and expected to be handed over in the first quarter of 2027. The facility was designed to support 128 NVIDIA GB300 NVL72 systems. The company also confirmed that its colocation lease at Tydal, Norway, has been executed, subject to conditions precedent.

The company's $36 million Sealminer manufacturing facility in Sparks, Nevada, remains on track for completion by year-end. Month-over-month, Bitdeer mined 990 BTC in June compared to 921 BTC in May, representing a 7.5% increase and extending its streak of consecutive monthly production growth.