Welcome back to The Mining Pod! This week we are joined by Brandon Bailey (a.k.a. Bitcoin Beezy), a co-founder of Second Gate advisory and a former VP of mining at Galaxy Digital, to discuss his recent research note on Bitdeer. He argues that the public miner, which is sometimes overlooked for some combination of language barriers and the team’s geographic distance from North America, is massively undervalued. He digs into Bitdeer’s bitcoin mining business and its burgeoning ASIC miner manufacturing line to make the case that the company deserves a valuation comparable to Riot, Marathon, CleanSpark, and Core Scientific.
Timestamps:
00:00 Start
02:11 Bitdeer Research Note
03:46 Bitdeer as public company underdog
08:12 2025 Projected Growth
12:42 market segments
14:59 Total Revenue
16:10 Self mining vs hosting
18:34 New ASICs
23:46 ASIC manufacturing at scale
30:13 Advantages of vertical integration
35:08 Bitdeer can shift market segments
37:03 AI & HPC
41:11 AI training profitability
45:34 3 AI Compute approaches
50:43 Final thoughts
Published twice weekly, "The Mining Pod" interviews the best builders and operators in the Bitcoin and Bitcoin mining landscape. Subscribe to get notifications when we publish interviews on Tuesday and a news show on Friday!
