Bitcoin mining business Bitdeer validated that a fire broke out at its center in Massillon, Ohio, on Tuesday, without any reported casualties.
The fire impacted 2 of 26 structures under building at the Massillon website, which does not have any mining rigs set up, according to a statement on Wednesday.
Bitdeer stated it “does not anticipate” the event to affect the business’s functional hashrate, a procedure of the overall computing power commanded by its mining operations.
The fire came in the middle of monetary and macroeconomic obstacles for Bitdeer and the more comprehensive mining market in 2025, as the sector faces the effect of tariffs, increasing energy expenses, supply chain concerns and increased competitors.
Shares of Bitdeer decreased by about 7.5% on Wednesday, trading at about $13.90 at the time of this writing, according to Yahoo Financing.
Cointelegraph connected to Bitdeer however had actually not gotten a reaction sometimes of publication.
Related: Bitdeer shares drop 20% after publishing $266M quarterly loss
2025 is a difficult year for Bitdeer and crypto miners
Bitdeer reported considerable losses for the last 4 service quarters, beginning with the 4th quarter of 2024, when the business published a bottom line of over $530 million.
The losses extended into Q1 2025 when Bitdeer reported a $3.2 million loss together with a 40% year-over-year drop in income, which amounted to simply over $70 million for the quarter. This was followed by a $147 million loss in Q2.
On Monday, the business revealed its Q3 monetary outcomes, revealing a $266.7 million bottom line, which resulted in its stock plunging by about 20% in 3 days.
The business turned to self-mining operations and developed a US-based production center in 2025 to balance out deficiencies in its production service from cooling need for mining rigs.
Sweeping trade tariffs revealed by United States President Donald Trump in 2025 developed much more obstacles for the beleaguered mining market, consisting of increasing expenses and the possibility that mining devices may be taken at United States ports by Custom-mades.
In reaction, Bitdeer doubled down on its self-mining technique in Q3 by broadening its hashrate and now intends to turn into one of the leading 5 mining business internationally.
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