Bitdeer demonstrates explosive growth: bitcoin mining increased by 370% year-over-year
Mining company Bitdeer continues to surprise the market with its operational performance. According to my calculations, based on the latest data, the firm mined 921 BTC in May of this year, which is more than 4.7 times higher than the result of May last year, when only 196 coins were mined. Such a leap — 370% — indicates an extremely aggressive capacity scaling strategy.
The key driver of this growth was the company's own hashrate. During the reporting period, it increased by almost 420% — from 13.6 EH/s to an impressive 70.2 EH/s. This suggests that Bitdeer is not just expanding its presence, but doing so ahead of many competitors, actively commissioning new equipment and optimizing energy resources. It is clear that the company is betting on vertical integration and control over production chains.
The dynamics of the bitcoin treasury are interesting. Despite record mining, the volume of reserves on the balance sheet increased by only 98 BTC in May, reaching 171 BTC. For comparison, a year ago this figure was 1,351 BTC. Such a sharp decline in reserves amid explosive mining growth may indicate active coin sales to finance expansion or cover operating expenses. This is a typical strategy for fast-growing companies during periods of capital-intensive investments.
My analysis: Bitdeer's growth is impressive, but investors should closely monitor how the company balances increasing its hashrate with managing its bitcoin reserves. If current sales rates persist, this could put pressure on profitability in the event of a market correction, but in the long term, increasing its share of the global hashrate is an undoubted plus for the company.