Bitdeer increased bitcoin mining by 370% year-over-year: hash rate surged by 420%
Bitdeer mining company is demonstrating impressive growth rates: in May of this year, the volume of mined bitcoin amounted to 921 BTC, whereas a year earlier this figure was only 196 BTC. Thus, the increase over 12 months reached 370%.
The key driver of this surge was a significant increase in its own hashrate. Over the same period, it grew by almost 420% — from 13.6 EH/s to 70.2 EH/s. This indicates a large-scale expansion of the company's production capacities, including the deployment of new equipment and the commissioning of additional data centers.
Interestingly, despite the aggressive growth in mining, Bitdeer is in no hurry to increase its bitcoin reserves. In May, the company increased its treasury volume by only 98 BTC, bringing it to 171 BTC. For comparison: a year earlier, this figure was 1,351 BTC. This may indicate that a significant portion of the mined coins is directed towards operating expenses or reinvested in development, rather than being held on the balance sheet.
My opinion: A 420% increase in hashrate is not just a number, but a signal that Bitdeer is betting on long-term leadership in the industry. However, the sharp reduction in the bitcoin treasury (from 1,351 to 171 BTC over the year) is concerning: perhaps the company is under pressure from creditors or prefers to lock in profits in fiat assets, which in conditions of market volatility could be a justified strategy.