Bitdeer increased bitcoin mining by 370% over the year: hash rate surged by 420%
Bitdeer, one of the leading players in the mining sector, has demonstrated impressive results over the past 12 months. In May of this year, the firm managed to mine 921 BTC, a 370% increase compared to the same period last year when the mining volume was only 196 BTC.
The key driver of this growth was a massive expansion of computing power. Bitdeer's proprietary hash rate increased by nearly 420% over this period, from 13.6 EH/s to 70.2 EH/s. This reflects the company's aggressive strategy to scale infrastructure and optimize operational efficiency, which is particularly important amid growing competition in the mining industry.
Despite the active increase in mining output, Bitdeer's bitcoin treasury volume decreased. In May, the company added 98 BTC to its reserves, bringing them to 171 BTC. For comparison, a year ago this figure stood at 1,351 BTC. Such a sharp decline may indicate that the firm prefers to sell most of its mined coins to finance current operations and capital expenditures, rather than accumulating them in anticipation of a price increase.
From my perspective, Bitdeer's strategy is pragmatic and aligns with current market realities. During a period of high volatility and tightening regulations in several jurisdictions, converting mined assets into fiat currency or stablecoins helps mitigate risks associated with bitcoin price fluctuations. However, investors should closely monitor the treasury dynamics: if the trend of declining reserves continues, it could signal a liquidity shortage or a shift in the company's long-term strategy.