Bitdeer Stock Rallies on New SEALMINER for Scrypt Mining

Bitdeer's SEALMINER DL1 Air is the company's first machine built specifically for Scrypt-algorithm mining, targeting Litecoin and Dogecoin — and the market noticed. Shares of the Jihan Wu-founded miner climbed roughly 8% on Monday after the announcement, making it one of the biggest single-day movers among publicly traded crypto equities that day. For a company that has spent the last year pivoting toward AI infrastructure and in-house chip development, this is a notable detour back toward the altcoin mining side of the business.

What Is the SEALMINER DL1 Air?

Bitdeer's first dedicated Scrypt mining machine

The SEALMINER DL1 Air is built around the Scrypt algorithm — the proof-of-work protocol behind Litecoin and Dogecoin. Bitdeer said in a statement the machine delivers a 25 GH/s hashrate at 149 J/GH power efficiency. It inherits the air-cooling architecture from the existing SEALMINER series, so existing deployment infrastructure should be compatible.

Beyond LTC and DOGE, the rig will also support a handful of smaller Scrypt-based chains: Bellscoin (BELLS), Junkcoin (JKC), Luckycoin (LKY), and Pepecoin (PEP). That's a wider target list than most observers expected from this launch.

The Merged Mining Logic — One Rig, Two Revenue Streams

Here's the pitch Bitdeer is making: Scrypt machines support merged mining, where validating Litecoin's chain automatically includes DOGE validation through what the company calls 'parent-child chain validation.' The net effect — mine LTC, collect DOGE rewards on top, no additional power draw. Bitdeer has been marketing this as a 'one investment, two returns' framework.

The company had previously acknowledged, somewhat bluntly, that its Bitcoin-focused SHA-256 mining machines were essentially useless for DOGE — it described them as 'acting like a glorified paperweight' when pointed at Dogecoin mining. The DL1 Air is the direct answer to that gap. Whether the hardware economics actually pencil out at current LTC and DOGE prices is a separate question entirely — but the pitch is clean.

Where Bitdeer Stands Right Now — And What's Clouding the Picture

The launch lands at an interesting moment for Bitdeer. The company reported a total hash rate under management of 71 exahashes per second in December 2025, with 55.2 EH/s coming from self-mining alone — a number that puts it in legitimate contention among the largest publicly traded miners. Bitcoin network hashrate averaged 733.13 EH/s in February, down from a record above 927 EH/s the prior month, though network difficulty remains historically elevated.

At the same time, Bitdeer is dealing with a securities class-action lawsuit filed in the Southern District of New York — the suit alleges misrepresentations around the timeline for its SEAL04 chip. That's the kind of overhang that doesn't disappear just because you're shipping new products.

And the strategic whiplash is real. Late last month, Bitdeer zeroed out its entire Bitcoin treasury — a modest holding, but still — as part of financing moves tied to a SEALMINER DL1 Air product buildout and the company's push into AI datacenter infrastructure, which includes a $300 million convertible senior notes private placement. CEO Wu said the company plans to rebuild its Bitcoin reserves — eventually.

Our competitive Bitcoin-focused mining machine product line acts like a glorified paperweight when faced with Dogecoin.

Does This Scrypt Pivot Actually Make Sense for Bitdeer?

Probably — but the timing is worth scrutinizing. Bitdeer has been loudly positioning itself as an AI infrastructure play, announcing datacenter expansion plans and raising capital accordingly. Launching a Litecoin and Dogecoin mining machine right now reads like the company hedging across every available revenue stream at once. Call it diversification, call it opportunism — either way, they're not leaving altcoin miners on the table.

The stock reaction suggests at least some investors like the direction. An 8% single-session pop on a hardware product announcement from a miner is not nothing, especially in the current market. Whether the DL1 Air becomes a real revenue driver or a niche product serving a narrow slice of the Scrypt mining community is where the real story plays out.