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In January 2021, Bitdeer was spun off from the bitcoin -mining chip producer Bitmain, which was co-founded by entrepreneur Jihan Wu in 2013. After the spin-off, Bitdeer established its headquarters in Singapore, where Wu resides. Wu has served as Bitdeer's executive chairman since the spin-off and is also its chief executive officer.
In November 2021, Bitdeer announced plans to merge with Blue Safari Group Acquisition Corp. and file an initial public offering. After a delayed merger with the special-purpose acquisition company, Bitdeer was listed on the Nasdaq in April 2023 at a valuation of $1.18 billion. In June 2023, Bitdeer announced plans to repurchase as much as $1 million worth of its stock. The company had 211 employees and earned S$ 485,975,304 in 2023.
In 2022, Bitdeer acquired the high-security storage facility Le Freeport in Singapore for S$40 million ( US$ 28.4 million).
In May 2024, Tether acquired a $100 million stake in Bitdeer through a private placement.
In April 2026, Bitdeer introduced the SEALMINER A4 series of bitcoin mining application-specific integrated circuit chips, designed to improve energy efficiency for large-scale mining operations.