Bitdeer increased bitcoin mining by 370% year-over-year: hash rate propelled the company to the forefront.
Mining company Bitdeer is demonstrating impressive growth rates: in May of this year, the volume of mined bitcoins amounted to 921 BTC, which is 4.7 times higher than the figure from a year ago — 196 BTC. Thus, the increase reached 370%.
The key driver of this success was the rapid expansion of its own hashrate. Over the past 12 months, the company's computing power increased by almost 420% — from 13.6 EH/s to 70.2 EH/s. Such aggressive expansion allowed Bitdeer to significantly strengthen its market position, even despite the overall volatility of the sector.
However, against the backdrop of active mining, the strategy for managing reserves has also changed. In May, the company increased its bitcoin treasury by 98 BTC, bringing it to 171 BTC. Notably, a year ago this figure stood at 1351 BTC. This reduction in reserves (more than sevenfold) indicates a shift in priorities: Bitdeer likely prefers to promptly sell the mined coins to finance further scaling and cover operating expenses, rather than accumulating long-term reserves.
Analytical Commentary
A 420% increase in hashrate combined with a decrease in treasury is a classic signal that the company is in a phase of active investment in infrastructure. Bitdeer is betting on volumes, and so far this strategy is paying off. However, investors should closely monitor the dynamics of mining costs: if the halving and rising network difficulty outpace the rate of capacity expansion, the business's margins could come under pressure.