Bitdeer increased bitcoin mining by 370%: the company's hash rate surged by nearly 420%
May became a landmark month for mining company Bitdeer. According to my analysis of operational data, the firm mined 921 BTC, a 370% increase from 196 BTC in the same period last year. This surge in performance is a direct result of an aggressive capacity scaling strategy.
The company's proprietary hash rate increased by nearly 420% during this period, from 13.6 EH/s to 70.2 EH/s. This indicates that Bitdeer is not merely compensating for network difficulty but is actively expanding its market share by commissioning new rigs and optimizing existing data centers.
Notably, despite such impressive growth in mining output, the company's bitcoin treasury increased by only 98 BTC in May, reaching 171 BTC. A year ago, this figure stood at 1,351 BTC. This sharp reduction in balance sheet reserves (from 1,351 to 171 BTC) suggests that Bitdeer is likely pursuing a strategy of actively selling mined coins to fund operational expenses or further infrastructure expansion, rather than accumulating them.
From my perspective, this dynamic is characteristic of mature miners that have transitioned from an accumulation phase to an active profit reinvestment phase. A 370% increase in mining output alongside a shrinking treasury signals that Bitdeer is betting on scale rather than long-term holding. This is a prudent move in an environment of high competition and rising network difficulty, but it increases the company's sensitivity to short-term bitcoin price fluctuations.