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Published January 21, 2026
Bitdeer promised a future powered by its next-generation SEALMINER chips. Lightning-fast. Ultra-efficient. Ready for mass production. Investors were excited. It sounded like a breakthrough.
But the truth was very different.
Starting in June 2024, executives kept saying the A4 rigs and their SEAL04 chip were “on track” for release in 2025. They repeated it in August, November, February, even through the summer of 2025. They claimed a five-joule-per-terahash chip was coming, and that mass production was right around the corner.
Behind the scenes, the project was falling apart. Engineering setbacks. A sudden dual-design scramble. Delays they never revealed. And by September, early samples weren’t anywhere near the performance Bitdeer had promised.
Then came November 10, 2025. Bitdeer reported a massive $266 million loss. Worse, they admitted the next-generation SEAL04 chip was “significantly delayed.” Investors were stunned. The stock dropped about 14% overnight.
Now, more shareholders are joining the lawsuit.