Bitdeer increased bitcoin mining by 370% over the year: hash rate soared by 420%
Mining company Bitdeer has demonstrated impressive growth in operational metrics. In May of this year, the firm mined 921 BTC, a 370% increase compared to May of last year, when the mining volume was only 196 BTC. This surge indicates a large-scale capacity expansion strategy.
The key driver of growth was a sharp increase in its own hash rate. Over the year, this metric grew by nearly 420% — from 13.6 EH/s to 70.2 EH/s. Such dynamics suggest that Bitdeer is actively deploying new ASICs and optimizing infrastructure, aiming to capture a larger market share after the halving.
Bitcoin Treasury Dynamics
Despite aggressive mining, the company showed mixed dynamics in reserve management. In May, Bitdeer increased its bitcoin treasury by 98 BTC, bringing it to 171 BTC. However, a year ago, this figure stood at 1,351 BTC. The significant reduction in reserves over 12 months is likely due to sales of part of the mined coins to finance operating expenses and capital expenditures for capacity expansion.
Analytical conclusion. A 370% increase in mining output alongside a reduction in treasury is a classic sign of an active reinvestment phase. Bitdeer appears to be betting on capturing market share during the post-halving consolidation period, sacrificing short-term BTC accumulation for long-term growth in its production base. If the hash rate continues to grow at this pace, the company could become one of the largest public miners, but investors should closely monitor debt levels and the efficiency of new capacity.