Bitdeer stock rallies as firm rolls out SEALMINER machines for Litecoin and Dogecoin mining

Bitcoin mining chip manufacturer Bitdeer is rolling out a new machine optimized for Litecoin and Dogecoin mining. 

According to an announcement on Monday, the new SEALMINER DL1 Air mining machine is built for the Scrypt algorithm used by the Litecoin and Dogecoin proof-of-work blockchains.

Bitdeer (BTDR) shares are up about 8% following the news, making it the fourth-largest gainer among crypto equities tracked by The Block's stock page.

Founded in 2020 by former Bitmain executive Jihan Wu, Bitdeer is today a major player in the Bitcoin mining space. Originally focused on cloud mining, the firm began shifting toward in-house hardware development of Application-Specific Integrated Circuit (ASIC) chips to reduce reliance on third-party manufacturers with its SEALMINER series.

Like other mining firms, Bitdeer has also increasingly leaned into the AI boom, including announcing plans to raise $300 million through a private placement of convertible senior notes to fund its datacenter expansion and high-performance computing and AI infrastructure business lines.

Last month, Bitdeer zeroed out its modest bitcoin holdings as part of these financing efforts. CEO Wu said at the time that the company intends to rebuild its bitcoin treasury.

Bitdeer’s latest release comes amid a period of heightened Bitcoin mining hashrate. Although the hashrate dipped to an average monthly 733.13 EH/s in February, down from a record high above 927 EH/s the month before, according to The Block’s data, the network’s self-regulating network difficulty remains historically elevated.

The SEALMINER DL1 Air machines will feature a 25 GH/s hashrate, power efficiency of 149 J/GH, and inherit the existing SEALMINER Air Cooling architecture, according to the announcement. It will also support other smaller Scrypt-based chains like Bellscoin (BELLS), Junkcoin (JKC), Luckycoin (LKY), and Pepecoin (PEP).

Bitdeer previously noted that its competitive Bitcoin-focused mining machine product line "acts like a glorified paperweight when faced with Dogecoin" due to the differences between the SHA-256 algorithm used by the first and largest blockchain and its later PoW forks, like DOGE and LTC.

Scrypt algo machines can support merged mining, where validating one chain can automatically include auxiliary chains through "parent-child chain validation." This means Scrypt machines used to successfully mine Litecoin automatically include DOGE rewards at no extra operational cost, in what Bitdeer has called a "one investment, two returns" framework.

In the last month of 2025, Bitdeer reported a "total hash rate under management" of 71 exahashes per second (EH/s), including a self-mining hashrate of 55.2 EH/s and hosted rigs. The firm is facing a securities class-action lawsuit in the Southern District of New York over alleged misrepresentations about its SEAL04 chip timeline.