Bitdeer Overtakes MARA for Self‑Mining Lead, JPMorgan Says

Overview

• JPMorgan pegs Bitdeer’s self‑mining capacity at 63.2 EH/s versus MARA’s last disclosed 60.4 EH/s, marking a leadership shift among publicly traded miners.
• Bitdeer added 8 EH/s in a month through SEALMINER rollouts and produced 668 Bitcoin in January, a 430% year‑over‑year increase.
• Bitcoin holdings fell to 1,530 BTC at January’s end from 2,017 in December, valued near $104 million at roughly $68,000 per coin.
• The company is evaluating U.S. data‑center leasing for AI cloud services and HPC/AI co‑location, while continuing SEALMINER deployments and targeting a Q1 2026 SEALMINER‑DL1 launch.
• Roth Capital and B. Riley cut BTDR price targets but kept Buy ratings, as BTDR fell about 6% and MARA dropped about 5% on Tuesday; MARA’s AI‑focused pivot and undisclosed JV capacity may still influence overall scale.