Bitdeer increased Bitcoin mining by 370% year-over-year: the company's hash rate surged to 70 EH/s
Bitdeer mining company continues to demonstrate impressive growth rates. According to my data, in May of this year, the firm mined 921 BTC, compared to just 196 BTC a year earlier. Thus, the increase over twelve months reached 370%.
The key driver of this surge was a significant expansion of computing power. Bitdeer's own hash rate increased by almost 420% over the same period — from 13.6 EH/s to 70.2 EH/s. This indicates massive investments in equipment and infrastructure, especially against the backdrop of generally intensifying competition in the sector after the last halving.
However, the dynamics of the company's bitcoin treasury are interesting. Despite active mining, Bitdeer's reserve volume has decreased. In May, the firm added 98 BTC to its treasury, bringing it to 171 BTC. For comparison: a year ago, this figure stood at 1,351 BTC. This discrepancy indicates that the company prefers to sell most of the mined coins to cover operating expenses and finance further expansion, rather than accumulate them.
Analytical Conclusion
A 370% increase in mining output alongside a decrease in reserves is a classic strategy of aggressive scaling. Bitdeer is clearly betting on capturing market share, sacrificing short-term capital accumulation. In current market conditions, this may be justified, but investors should closely monitor how quickly the company can convert its expanded capacity into sustainable cash flow.