Bitdeer Enters Partnership with NVIDIA for Cloud Services
Bitdeer Technologies Group, a Bitcoin cloud mining services company, has announced a partnership with NVIDIA to enhance its supercomputing resources. The company has become a cloud service provider in the NVIDIA partner network, allowing it to launch a cloud service in Asia powered by NVIDIA DGX SuperPOD.
The partnership will enable Bitdeer to provide AI supercomputing and software necessary for building and deploying generative AI models and services. Founded in 2018 by Jihan Wu, Bitdeer is strategically focusing on building its GPU cloud business and plans to offer various products such as Platform-as-a-Service, Software-as-a-Service, Application-as-a-Service, and Infrastructure-as-a-Service with custom APIs.
The DGX SuperPOD-based cloud service platform is expected to be launched in Q1 2024. Despite the positive news, Bitdeer’s shares continued to decline in value, losing 6.3% at $3.53 on Friday, Nov. 10, with the company’s market cap decreasing to $392.6 million according to Nasdaq.
Hot Take: Bitdeer’s Venture into Cloud Services
Bitdeer’s partnership with NVIDIA marks an important step in its expansion into cloud services, aiming to provide advanced AI supercomputing capabilities. However, despite this strategic move, the company’s shares experienced a decline in value following the announcement, reflecting potential challenges in the market that Bitdeer must navigate as it ventures into new territory.
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