Bitdeer reported explosive growth in Bitcoin mining: +370% year-over-year
Bitdeer miner demonstrates impressive dynamics: in May, the company increased its bitcoin mining volume to 921 BTC, which is 370% higher than the year-ago figure of 196 BTC. This surge was made possible by an aggressive expansion of computing power.
Bitdeer's own hash rate over this period soared by almost 420% — from 13.6 EH/s to 70.2 EH/s. This indicates a large-scale investment program in equipment and infrastructure. However, despite the growth in mining, the company's bitcoin treasury volume changed less radically: in May, it increased by 98 BTC, reaching 171 BTC. For comparison, a year ago this figure stood at 1,351 BTC.
Such a significant discrepancy between mining volumes and reserves is explained by the active sale of mined coins to finance operating expenses and capital expenditures. Bitdeer, like many public miners, chooses a strategy of rapid monetization of mining rather than accumulation, in order to maintain high hash rate growth rates and update the fleet of ASIC devices amid competitive pressure for market share.
Analytical Conclusion
Growth of 370% is certainly a strong signal, but the key question lies in the sustainability of such a model. As long as Bitdeer can afford to sell most of its mined coins to expand capacity, the market supports this. However, if the bitcoin price declines or mining difficulty increases, such a strategy could lead to liquidity pressure. From my perspective, investors should closely monitor the dynamics of mining costs and the company's debt burden — these factors will determine whether Bitdeer can maintain its current pace in the long term.