What's Happening?
Bitdeer Technologies Group has overtaken MARA Holdings to become the largest bitcoin mining company by total hashrate under management. As of December 2025, Bitdeer reported a combined self-mining and
hosted capacity of 71 exahashes per second (EH/s), compared to MARA's 61.7 EH/s. Bitdeer's growth is attributed to its proprietary SEALMINER chips, which have significantly reduced energy consumption to approximately 6-7 joules per terahash, boosting their December bitcoin output to 636 BTC from 145 BTC a year earlier. The Singapore-based company is leveraging its bitcoin mining profits to fund an aggressive expansion into artificial intelligence infrastructure, with investments in eight sites across Canada, Ethiopia, Norway, and several U.S. states. In contrast, MARA is focusing on consolidating its mining operations with Bitmain Antminer ASICs and holds over 55,000 BTC.
Why It's Important?
This development highlights the shifting dynamics in the bitcoin mining industry, where efficiency and diversification into AI infrastructure are becoming critical for growth. Bitdeer's strategy of using advanced technology to reduce energy consumption and reinvesting profits into AI positions it as a leader in both sectors. This could influence other companies to adopt similar strategies, potentially reshaping the competitive landscape. The expansion into AI also underscores the growing intersection between cryptocurrency mining and high-performance computing, which could drive further innovation and investment in these areas. For stakeholders, this means potential shifts in market leadership and new opportunities for growth and collaboration.
What's Next?
Bitdeer's continued investment in AI infrastructure suggests a strategic focus on diversifying its business model beyond bitcoin mining. This could lead to further advancements in AI technology and increased competition in the tech sector. As Bitdeer expands its operations, it may face regulatory challenges and the need to secure sustainable energy sources to support its growth. Meanwhile, MARA's strategy of holding significant bitcoin reserves could provide financial stability and opportunities for future investments. Industry observers will likely monitor how these strategies impact the companies' market positions and the broader cryptocurrency and AI industries.
