Bitdeer has authorized a new $100 million share repurchase program, giving the Bitcoin miner and ASIC manufacturer two years to buy back Class A shares while it continues spending heavily on mining hardware, land, power and AI infrastructure.
The October 8 SEC filing says the program runs from October 8, 2026 through October 7, 2028. Bitdeer also confirmed that it has fully utilized the $40 million capacity under the prior repurchase program adopted in May 2025.
The New Program Is 2.5x Larger Than the Last One
The previous repurchase authorization was $40 million. The new $100 million program is therefore 2.5 times larger.
Bitdeer has also used smaller programs before that. Its 2025 and 2026 filings describe a $10 million program approved in September 2024, a $20 million program approved in February 2025, and the later $40 million program. Add the new authorization and Bitdeer has approved about $170 million of repurchase capacity since September 2024, although an authorization is not the same thing as cash already spent.
At Today’s Price, $100 Million Could Cover About 10.4 Million Shares
BTDR closed October 9 at roughly $9.63 per share. At that exact price, a fully used $100 million authorization would theoretically purchase about 10.4 million shares.
Bitdeer currently has roughly 271.8 million shares outstanding according to current market data. That means the authorization is equivalent to about 3.8% of shares outstanding if every dollar were spent at $9.63.
That is only a scale illustration. Bitdeer is not required to spend the entire authorization, the share price will move, and repurchases can occur at different prices and times. The filing gives the company flexibility rather than committing it to remove exactly 3.8% of its shares.
The Buyback Matches the Size of Bitdeer’s Recent Texas Land Purchase
The new authorization is especially notable because Bitdeer recently spent roughly $100 million in cash to acquire about 200 acres near its Rockdale, Texas facility. That land purchase expanded the company’s Milam County position to roughly 255 acres and about 742 MW of existing and pipeline power capacity.
In other words, the headline size of the new share buyback is roughly equal to the cash price of a major physical infrastructure acquisition. That comparison shows the capital-allocation tension facing large miners: every dollar can go toward ASICs, substations, land, AI capacity, debt reduction, liquidity—or the company’s own shares.
BitcoinVersus recently covered Bitdeer’s 67 MW A901 Malaysia AI campus and its 79.9 EH/s self-mining fleet. The buyback now adds another use of capital to that expansion story.
Bitdeer Is Still Spending Aggressively on Mining Hardware
This is not a miner shrinking into financial engineering. Bitdeer continues to design its own ASIC hardware, deploy SEALMINER machines and scale self-mining hashrate.
The company’s current SEALMINER A4 lineup reaches as high as roughly 886 TH/s at 9.45 J/TH on the A4 Ultra Hydro and 336 TH/s at 10.9 J/TH on the A4 Pro Air. Those specifications push Bitdeer deeper into the same efficiency race driving the rest of the industrial mining fleet.
The video below features Bitdeer executives discussing SEALMINER development, mining efficiency, hashrate growth and the company’s vertically integrated ASIC strategy.
A Buyback Does Not Guarantee the Share Count Will Fall
Investors should also separate repurchase authorization from guaranteed net share reduction. A company can buy back shares while simultaneously issuing stock for employee compensation, acquisitions, financing or other corporate purposes.
The important fact today is simpler: Bitdeer’s board has given management substantially more capacity to buy shares than under the last program, and the earlier $40 million authorization was fully used.
What the $100 Million Buyback Shows
- The new authorization is 2.5 times larger than the prior $40 million program.
- At a $9.63 share price, $100 million would theoretically cover about 10.4 million shares.
- That equals roughly 3.8% of current shares outstanding if fully executed at that price.
- The authorization is roughly the same headline size as Bitdeer’s recent $100 million Rockdale land purchase.
- Bitdeer is balancing shareholder returns against unusually capital-intensive mining, ASIC, power and AI expansion.
The larger mining story is not that Bitdeer suddenly became a buyback company. It is that one of Bitcoin mining’s most aggressive vertically integrated operators now believes its own equity deserves a much larger place in the capital-allocation stack. The next two years will show how much of that $100 million authorization is actually used—and what infrastructure spending competes with it.
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