Bitdeer reported a net decrease in Bitcoin holdings as it faces a class action lawsuit over SEAL04 mining chip.
- Although Bitdeer reduced its Bitcoin (BTC) holdings by 99.1 BTC during the week, its shares rose after hours on Friday.
- VanEck's Matthew Sigel suggested leveraged (2x) ETFs for mining stocks, including Bitdeer, could boost miner complex liquidity and trading volumes.
- Many X commentators noted Bitdeer's U.S. expansion, particularly its Ohio mining presence, highlighting market focus on geographic positioning and infrastructure optionality.
Mining company Bitdeer shares rose after hours on Friday despite a reduction in its Bitcoin holdings.
Bitdeer revealed on X that it reduced its Bitcoin (BTC) holdings by 99.1 BTC during the week, bringing total holdings to 1,900.9 BTC as of Friday.
The company reported Bitcoin output of 137.7 BTC and said it sold 137.9 BTC, resulting in a net decline in holdings. Bitdeer noted that the figures reflect “pure holdings, excluding customer deposits.”
Despite the Bitcoin sales, Bitdeer shares moved higher after hours. Bitdeer (BTDR) closed at $11.51 on Friday, down 1.88% on the day. In the after-hours trading, however, the stock was up by 1.91%, trading at $11.73. On Stocktwits, retail sentiment around Bitdeer remained in ‘neutral’ territory, as chatter around the stock increased from ‘normal' to ‘high’ levels over the past day.
Matthew Sigel, head of digital assets research at VanEck, wrote on X that “2x ETFs [are] en route” for several crypto mining stocks, including Bitdeer, which could allegedly increase trading activity in the sector.
In another post, McNallie Money, a media company, referenced Bitdeer’s disclosed U.S. expansion footprint, writing, “We know someone else with power in Ohio,” in an apparent reference to the company’s mining infrastructure projects in the state. The post allegedly pointed to Bitdeer’s operating and pipeline sites listed in the company materials. There has been no reported insider buying or selling activity in Bitdeer stock over the past 12 months.
Lawsuit Over Chip
Bitdeer is also facing a class action lawsuit related to delays in its SEAL04 Bitcoin mining chip. According to a complaint filed in the U.S. District Court for the Southern District of New York, plaintiffs allege the company and certain executives made misleading statements about the chip’s development timeline and energy efficiency.
The lawsuit cites Bitdeer’s November 2025 disclosure that its next-generation SEAL04 chip was “significantly delayed,” with early samples achieving 6-7 J/TH efficiency, above the previously stated 5 J/TH target. The allegations have not been proven in court, and Bitdeer has not admitted wrongdoing.
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