Bitdeer recorded a record growth in Bitcoin mining: +370% year-over-year
Mining company Bitdeer has demonstrated impressive growth rates in operational metrics. According to my analysis, in May of this year, the firm mined 921 BTC, a 370% increase compared to the same period last year — 196 BTC. Such a production surge was made possible by an aggressive expansion of computing power.
The company's own hash rate increased by almost 420% — from 13.6 EH/s to 70.2 EH/s over twelve months. This indicates a large-scale equipment upgrade and expansion of data centers, which is especially noticeable against the backdrop of a general slowdown in the growth rate of the Bitcoin network's hash rate.
The dynamics of the Bitcoin treasury deserve special attention. In May, Bitdeer increased its reserves by 98 BTC, bringing them to 171 BTC. However, it is worth noting that a year ago this figure was 1,351 BTC. Such a sharp reduction in reserves — from 1,351 to 171 BTC — indicates that the company is actively selling mined coins, likely to finance operating expenses and investments in capacity expansion.
Expert Opinion
A 370% increase in mining output alongside a decline in treasury reserves is a classic signal of an aggressive growth strategy. Bitdeer appears to be betting on scaling hash rate at the expense of asset accumulation. This is a reasonable move in the context of the approaching halving, when each additional EH/s will generate less income in BTC. However, investors should closely monitor how quickly the company can convert this growth in capacity into net profit.