Bitdeer Technologies Group has officially acquired Desiweminer, a prominent player in the crypto ASIC design industry. The deal, which was finalized on June 3, 2024, involves the exchange of 20 million Bitdeer shares and comes with strict transfer restrictions that will be in place for up to seven years.
Bitdeer, listed on Nasdaq as BTDR, made the decision to purchase Desiweminer after a thorough ten-month evaluation period, highlighting the strategic importance of this acquisition in enhancing its ASIC design capabilities. Desiweminer is well-known for its advanced chip designs tailored for ultra-fine 4nm processes and its team will now become part of Bitdeer’s operations in Singapore.
This strategic move is expected to expedite product development and strengthen Bitdeer’s position in the competitive semiconductor market. Linghui Kong, Bitdeer’s chief business officer, praised Desiweminer’s impressive achievements in ASIC design and their extensive track record of nearly 30,000 high-performance machines in the market, positioning them as one of the top ASIC design groups globally.
The acquisition news comes shortly after Bitdeer secured a $100 million investment from Tether, the world’s largest stablecoin issuer, at the end of May. Prior to that, Bitdeer had also announced a collaboration with Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest semiconductor manufacturer by contract.
Kong expressed excitement about integrating these cutting-edge technologies to enhance Bitdeer’s current product lineup and accelerate the research and development of their next-generation ASICs, pushing the boundaries of ASIC technology and efficiency. Despite a 2% dip in Bitdeer shares on Wednesday, the BTDR stock has seen a more than 17% increase against the U.S. dollar over the past five days.
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