Bitdeer demonstrates explosive growth: bitcoin mining increased by 370% year-over-year
May was a landmark month for Bitdeer, as the company demonstrated impressive operational results. During this period, the firm mined 921 BTC, which is 4.7 times higher than the figure for May last year, when only 196 coins were mined. Thus, the annual growth in mining volume amounted to 370%.
The key driver of this surge was a massive increase in computing power. Bitdeer's proprietary hash rate over the same period grew by almost 420% — from 13.6 EH/s to 70.2 EH/s. This indicates the company's aggressive strategy for expanding infrastructure and purchasing new equipment.
However, despite the growth in mining, the company adheres to a conservative treasury management policy. In May, Bitdeer increased its bitcoin reserves by 98 BTC, bringing them to 171 BTC. For comparison, a year ago this figure stood at 1,351 BTC. The significant reduction in reserves over 12 months indicates that the firm is actively selling mined coins to finance operational activities and capital expenditures for capacity expansion.
Analytical commentary: A 420% increase in hash rate with "only" a 370% increase in mining output suggests that Bitdeer is facing growing network difficulty and possibly temporary delays in bringing new capacity online. Nevertheless, such scaling rates make Bitdeer one of the fastest-growing public miners, which, in the context of the approaching halving, is a critical factor for maintaining competitiveness.