Bitcoin mining giant Bitdeer has recorded explosive growth in bitcoin mining: +370% year-over-year
Analyzing the latest Bitcoin mining data, I note an impressive surge by Bitdeer. In May of this year, the volume of mined coins reached 921 BTC, compared to just 196 BTC in May of last year. A 370% increase is not just a number, but a clear signal of large-scale expansion and high operational efficiency.
The key driver of this result was the aggressive expansion of proprietary computing power. The company's own hash rate increased by nearly 420% over the year, from 13.6 EH/s to an impressive 70.2 EH/s. This indicates that Bitdeer is actively deploying new equipment, likely of the latest generation, and optimizing its infrastructure despite challenging market conditions.
Interesting dynamics are also observed in reserve management. In May, the company added 98 BTC to its treasury, bringing the total to 171 BTC. However, it is worth noting that a year ago this figure was significantly higher at 1,351 BTC. This decline is likely due to active sales of mined coins to fund capital expenditures for capacity expansion or debt refinancing.
My Analysis and Conclusions
Bitdeer's strategy is clear: a focus on scale and technological superiority. In the context of the halving and increased competition in mining, this approach is the only correct one for maintaining leadership. The 420% growth in hash rate with a 370% increase in mining output indicates that the company is facing a natural rise in network difficulty, yet still maintains high operational efficiency.
The decline in treasury holdings is a concerning but expected signal. In the current cycle, many major players are forced to sell part of their mined coins to maintain liquidity. Nevertheless, if Bitdeer can sustain its current pace of capacity growth, we may see a new wave of accumulation once the market stabilizes.