How Bitdeer is navigating Bitcoin mining and AI integration

Bitcoin mining firm Bitdeer is integrating high-performance computing and AI applied sciences whereas prioritizing transparency and vertical integration to revolutionize the mining business.

With U.S. presidential candidate Donald Trump’s bold plans to mine all future Bitcoin within the U.S., Bitcoin mining has grow to be a pivotal factor in his bid for the presidency. Talks of crypto and Bitcoin mining are dominating political campaigns and procedures.

The wedding of Bitcoin mining with cutting-edge applied sciences like Synthetic Intelligence (AI) and high-performance computing (HPC) is reshaping the business. Publicly traded miners are exploring these applied sciences to diversify income streams and guarantee sustainable progress.

Bitdeer, a Singapore-headquartered Bitcoin mining firm, has emerged as a standout on this aggressive subject. In keeping with a latest Cantor report, Bitdeer is poised to grow to be one of many largest miners globally, with plans so as to add 1,079MW of energy to its knowledge facilities — sufficient to energy practically 900,000 houses or one massive nuclear energy plant. This growth underscores Bitdeer’s ambition to grow to be one of many greatest knowledge facilities on the planet.

In an interview with crypto.information, Jeff LaBerge, Head of Capital Market & Strategic Initiatives at Bitdeer, gave insights into the corporate’s modern practices and strategic initiatives.

Managing conflicts of curiosity

LaBerge emphasised the significance of transparency when requested about potential conflicts of curiosity, particularly with AI firms shopping for increasingly more mining firms.

AI firms buying Bitcoin mining gear can result in transparency flaws, as utilizing these AI applied sciences in mining operations obscures possession, use circumstances and management constructions, complicating financials and doubtlessly facilitating illicit actions.

“We consider that holding our contracts and phrases particular and clear permits us to handle potential conflicts of curiosity,” LaBerge stated. “Every of our internet hosting clients has an in depth contract that explicitly states the quantity of electrical energy they’re contracted to attract and the fee phrases related to that energy.”

To make sure this transparency, Bitdeer independently manages and operates mining rigs for each self-mining and internet hosting companies, monitoring every rig’s standing to make sure correct logs of utilization, hash fee, and energy consumption.

Proprietary vs. Hosted Mining

Bitdeer employs proprietary mining strategies to spice up effectivity and profitability. By using varied companies in Bitcoin mining, Bitdeer can optimize useful resource allocation and cut back dangers associated to market volatility.

“Our diversified verticals within the Bitcoin mining phase, i.e. self-mining, cloud hashrate and internet hosting, permit us to mitigate volatility and facilitate progress throughout completely different cycles of the market,” LaBerge famous.

This diversification allows Bitdeer to keep up robust margins throughout varied market cycles by leveraging completely different points of its operations.

Bitdeer goals to revolutionize the mining market with its extremely environment friendly rigs, promising substantial vitality financial savings—essential for slicing miners’ largest prices. Its “SEAMLINER” know-how roadmap exhibits its dedication to transparency, essential for narrowing the crypto mining business’s data hole.

Highlighting some great benefits of vertical integration in rig design, LaBerge identified that Bitdeer produces probably the most environment friendly rigs in the marketplace, which offers vital vitality financial savings. “As a rig producer, now we have grow to be the one really vertically built-in public miner. This offers us a major CapEx benefit over our opponents,” he stated.

AI implementation and R&D Focus

Opposite to the idea of elevated operational prices as a consequence of AI, LaBerge clarified that Bitdeer had not applied AI as an enabling know-how at their websites. As an alternative, the corporate focuses on enhancing the effectivity of computing {hardware}.

“We now have not applied AI as an enabling know-how in our websites. Bitdeer is dedicated to enhancing the effectivity of the computing {hardware} utilized in our knowledge facilities and accessible on the service provider market,” he stated. “25% of workers are devoted to R&D efforts, targeted on chip design. We’ll proceed to spend money on R&D as a part of our core technique as a vertically built-in know-how firm for blockchain and high-performance computing.”

Nvidia’s computing functionality

Leveraging Nvidia’s computing functionality, LaBerge emphasised Bitdeer’s transition to Excessive-Efficiency Computing (HPC) knowledge facilities, backed by its cloud computing and knowledge middle improvement experience.

Bitdeer’s use of Nvidia’s computing capabilities enhances their aggressive edge. With over 2 gigawatts of contracted energy, Bitdeer is well-positioned to capitalize on the burgeoning market alternatives forward.

“Turning into the primary most popular cloud service supplier in Asia by NVIDIA in This fall 2023 is a testomony to this experience and capabilities on this area,” LaBerge stated.