Bitdeer increased bitcoin mining by 370% over the year: the company's hash rate soared to 70.2 EH/s
Mining company Bitdeer has demonstrated impressive growth rates. In May of this year, the firm mined 921 BTC, a 370% increase compared to the same period last year, when the mining volume was only 196 BTC. This explosive growth indicates the company's large-scale expansion in the first cryptocurrency mining market.
Hashrate increased by almost 420%
The key driver of this success was a sharp increase in computing power. Bitdeer's own hashrate jumped from 13.6 EH/s to 70.2 EH/s over the year — an increase of almost 420%. This means the company not only expanded its equipment fleet but also actively commissioned new data centers or modernized existing ones. For comparison, this level of hashrate is comparable to the capacities of some of the largest pools, placing Bitdeer alongside the industry's leading players.
Bitcoin Treasury: Unexpected Dynamics
Despite active mining, the company's bitcoin treasury increased by only 98 BTC in May, reaching 171 BTC. However, a year ago, this figure stood at 1,351 BTC. Such a sharp reduction in reserves (almost 87% over 12 months) points to an aggressive asset management strategy. Bitdeer likely prefers to sell mined coins to finance further expansion or repay obligations, rather than accumulating them on its balance sheet.
Analytical Commentary: A 420% increase in hashrate is not just a number, but a signal that Bitdeer is betting on scale rather than storage. Selling most of its mined output (the treasury has shrunk eightfold) suggests the company views the current stage as an investment phase — reinvesting profits into equipment and infrastructure. In the context of the halving and intensifying competition, such an approach may be justified, but it carries risks in the event of a sharp drop in bitcoin's price.