Bitdeer Technologies Group (BTDR), a world-leading technology company for blockchain and high-performance computing, saw its stock price plummet by 5.10% in intraday trading on Wednesday. This significant decline appears to be driven by investors' response to the company's December 2024 production and operations update.

While the update highlighted several positive developments, such as the on-track production of approximately 35 EH/s of SEALMINER A2s through Q3 2025 and the expected release of SEAL03 sample wafers with an anticipated chip efficiency of 10 J/TH in Q1 2025, there were also potential concerns raised by investors.

One area of concern could be the slower-than-expected progress in energizing some of Bitdeer's infrastructure projects. For instance, the 40 MW phase 1 expansion in Tydal, Norway, is still pending regulatory approval for energization, while the 221 MW site in Massillon, Ohio, is not expected to be fully operational until mid-to-late 2025. These delays could potentially impact Bitdeer's ability to scale its operations promptly and meet the growing demand for its services.