Bitdeer demonstrates explosive growth in bitcoin mining: +370% year-over-year
Mining company Bitdeer continues to surprise the market with its aggressive expansion. In May of this year, the firm mined 921 BTC, more than quadrupling the figure from a year ago, when production volume was just 196 BTC. Thus, mining growth reached an impressive 370%.
The key driver of this surge was a significant increase in its own hashrate. During the reporting period, the company's computing power rose by almost 420% — from 13.6 EH/s to 70.2 EH/s. This indicates that Bitdeer is actively investing in new equipment and infrastructure modernization, aiming to take a leading position in the industry.
However, despite the rapid production growth, the company's reserve management strategy has undergone notable changes. In May, Bitdeer added 98 BTC to its bitcoin treasury, bringing its total to 171 BTC. For comparison: a year ago, this figure stood at 1,351 BTC. This trend suggests that the firm has likely shifted to more actively selling mined coins to fund operational activities and further scaling, rather than accumulating them in "cold" storage.
Analytical commentary: The nearly 420% increase in hashrate, alongside a "mere" 370% rise in mining output, suggests that some of the new capacity may have been directed toward supporting pool operations or encountered temporary technical issues. Nevertheless, Bitdeer's aggressive expansion against the backdrop of rising network difficulty appears as a confident bet on a long-term bullish trend. The reduction in BTC treasury holdings, meanwhile, is a pragmatic move typical of public companies seeking to maximize current liquidity in a volatile market.