The Singapore-based company operates a total capacity of 71 EH/s, positioning itself among the leading players in the global mining industry.
Bitdeer Technologies Group, headquartered in Singapore, appears to have overtaken MARA Holdings Inc. to become the largest bitcoin mining company by total capacity, according to the latest data released by the company.
At the end of December, Bitdeer reported a “total hashrate under management” of 71 exahashes per second (EH/s). This figure includes both 55.2 EH/s dedicated to self-mining and additional equipment hosted on behalf of third parties.
MARA currently reports a capacity of 61.7 EH/s on its official website. Since mid-2023, MARA had consolidated its position as the largest publicly traded miner by self-generated hashrate, growing from less than 20 EH/s to surpassing the 60 EH/s threshold in September 2025.
It remains unclear whether the “total hashrate under management” metric used by Bitdeer is directly comparable to the “energized hashrate” reported by MARA. Bitdeer discloses a self-mining capacity of 55.2 EH/s, with more than 1,100 chips deployed, 538 of which operate under external subscription agreements, generating approximately $10 million in annualized revenue, according to its Q4 2025 results.
The shift toward AI
The rise of the artificial intelligence sector has reshaped the economics of mining, pushing competing companies to develop high-performance computing infrastructure and invest in access to low-cost energy.
“Bitdeer reported 71 EH/s of capacity as of end December (~6% of the global hashrate), +18% month over month and +229% year over year,” said Matt Sigel, Head of Research at VanEck, in a post on X. “Like other miners, they are actively selling everything they mine (and more) to fund the the AI pivot.”
SEALMINER technology
In addition, Bitdeer is expanding its mining capacity through the deployment of its proprietary SEALMINER chips. These hyper-optimized chips enabled the company to mine 636 bitcoins in December 2025, compared with 145 BTC in December 2024, according to the latest quarterly report.
Bitdeer’s SEAL04-1 chip has demonstrated energy efficiency of around 6–7 J/TH at the chip level under low-voltage conditions, compared with MARA’s reported “fleet energy efficiency” of 19 J/TH—although this comparison may not be fully equivalent.
Global expansion and diverging strategies
The Singapore-based company is simultaneously expanding its AI and HPC infrastructure, investing in construction projects across at least eight sites in Canada, Ethiopia, Norway, and the U.S. states of Ohio, Tennessee, and Washington.
By contrast, MARA operates 18 data centers that primarily use Bitmain’s Antminer ASIC chips. While MARA is also diversifying into AI operations, the company’s core strategy focuses on retaining the bitcoins it mines, helping it build the second-largest BTC treasury among public companies. MARA holds more than 55,000 BTC, compared with Bitdeer’s 2,017.
