Bitdeer demonstrates explosive growth in bitcoin mining: +370% year-over-year
Mining company Bitdeer continues to surprise the market with its aggressive expansion. According to my analysis of operational data, the firm mined 921 BTC in May of this year, representing a colossal 370% increase compared to the 196 BTC mined in May last year. This is not just statistics — it is direct evidence of an effective strategy for scaling and modernizing capacity.
The key driver of this surge was the explosive growth of its own hashrate. Over the stated period, it increased by nearly 420% — from 13.6 EH/s to an impressive 70.2 EH/s. Such rates of computational power expansion place Bitdeer on par with the largest pools and operators, allowing the company to capture an ever-increasing share of block rewards amid the growing complexity of the Bitcoin network.
However, the dynamics of bitcoin treasury management are interesting. Despite record mining output, the company increased its reserve in May by only 98 BTC, bringing it to 171 BTC. For comparison, a year ago the figure was 1,351 BTC. This sharp reduction in balance sheet holdings indicates that Bitdeer is actively selling mined coins on the market, likely to finance further expansion, repay debt obligations, or cover operating expenses. This is a typical practice for fast-growing miners who prefer to convert hashrate into liquidity rather than long-term storage.
My expert analysis: Bitdeer's strategy is a race for market share. Doubling and tripling capacity amid margin compression after the halving is a bold move that could pay off if the BTC price recovers. However, the sharp reduction in treasury suggests the company is betting on operational efficiency rather than speculative asset holding. Investors should closely monitor how Bitdeer balances growth and financial stability in the coming quarters.