Bitdeer increased bitcoin mining by 370% over the year: hash rate surged by 420%
Mining company Bitdeer is demonstrating impressive growth rates. In May of this year, it mined 921 BTC, a 370% increase compared to 196 BTC in the same period last year. This surge was made possible by aggressive expansion of computing power.
Bitdeer's own hash rate increased by nearly 420% over the year — from 13.6 EH/s to 70.2 EH/s. Such a sharp increase in capacity indicates the company's strategic focus on scaling operations, despite market volatility and rising mining difficulty.
Notably, amid the explosive growth in mining output, the company's Bitcoin treasury volume decreased. In May, Bitdeer added 98 BTC to its reserves, bringing them to 171 BTC. However, a year ago, this figure stood at 1,351 BTC. This suggests that the firm is likely actively selling mined coins to finance expansion or cover operating expenses.
Analytical commentary: A 420% increase in hash rate with "only" a 370% increase in mining output may indicate that some of the new capacity was brought online only at the end of the period, or that the company faced temporary technical constraints. Nevertheless, Bitdeer's dynamics confirm the consolidation trend in the mining sector: major players continue to increase their market share by leveraging economies of scale and access to cheap energy.