Bitdeer is ramping up its operations: Bitcoin mining has surged by 370% over the past year
Mining company Bitdeer is demonstrating impressive dynamics: in May of this year, bitcoin mining volume reached 921 BTC, compared to just 196 BTC a year earlier. Thus, growth exceeded 370%. This is one of the highest growth rates among public miners.
The key driver of this surge was a large-scale expansion of computing power. Bitdeer's proprietary hash rate increased by almost 420% over the year — from 13.6 EH/s to 70.2 EH/s. The company actively expanded its fleet of ASIC equipment and commissioned new data centers, allowing it to significantly outpace average market growth rates.
Notably, despite the aggressive increase in mining output, Bitdeer is demonstrating a restrained policy regarding reserve accumulation. In May, the company added 98 BTC to its bitcoin treasury, bringing it to 171 BTC. For comparison, a year ago this figure stood at 1,351 BTC. Such a reduction in reserves may indicate that the firm is actively selling mined coins to finance operating expenses and further capacity expansion.
My analysis: Bitdeer's 370% growth in mining output and 420% growth in hash rate is not just a matter of favorable market conditions, but the result of systematic work to scale infrastructure. However, an 8-fold reduction in bitcoin reserves over the year is concerning: if the company does not begin to accumulate profits in the context of the halving, it could signal high operating costs or aggressive debt burdens. The market will be closely watching the next report to understand how sustainable this growth model is.