Bitdeer soared: hash rate increased by 420%, bitcoin mining by 370% over the year
Mining company Bitdeer is demonstrating impressive growth rates, placing it among the industry leaders. According to my analysis of operational data, in May of this year, the firm increased its Bitcoin mining volume to 921 BTC, compared to just 196 BTC in May last year. Thus, the year-over-year growth exceeded 370%.
The key driver of this surge was a significant expansion of computing power. Bitdeer's own hash rate increased by nearly 420% over the same period — from 13.6 EH/s to 70.2 EH/s. This indicates a large-scale investment program by the company aimed at upgrading equipment and commissioning new capacity, especially amid growing competition after the halving.
However, despite the rapid growth in mining output, the company's Bitcoin treasury management strategy has changed. In May, Bitdeer increased its reserves by 98 BTC, bringing them to 171 BTC. For comparison, a year ago this figure stood at 1,351 BTC. Such a reduction in the treasury may indicate that the company prefers to sell most of its mined coins to finance further expansion or service debt obligations, rather than accumulating assets.
My Professional Perspective
A 420% hash rate growth is undoubtedly an outstanding result, reflecting Bitdeer's serious ambitions to secure a place among the top public miners. However, investors should be wary of the sharp reduction in the Bitcoin treasury. While many competitors are using the correction period to accumulate, Bitdeer is clearly betting on aggressive capacity growth, sacrificing its long-term BTC position. This strategy could yield high returns if the price rises, but it carries increased risks in the event of a prolonged "crypto winter."