Bitdeer increased bitcoin mining by 370% over the year: hash rate surged by 420%
May became a landmark month for the mining company Bitdeer. By the end of the month, the firm increased its mined bitcoin volume to 921 BTC, which is 370% higher than the figure from a year ago, when only 196 BTC were mined. This production surge indicates a large-scale modernization of equipment and an aggressive capacity expansion strategy.
The company's own hash rate over the same period grew by almost 420% — from 13.6 EH/s to an impressive 70.2 EH/s. This means that Bitdeer not only increased the number of ASIC miners but also significantly improved their efficiency, likely due to a transition to more modern models and optimization of power supply.
Notably, despite the active increase in mining output, the company reduced its bitcoin treasury volume. 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 trend indicates that the firm prefers to sell most of its mined coins to finance operational expenses and expansion investments, rather than accumulating them in anticipation of price growth.
Situation Analysis
From a market strategy perspective, Bitdeer demonstrates a classic "scaling at the expense of reserves" approach. A 420% increase in hash rate alongside an 87% reduction in treasury signals that the company is betting on current liquidity and future profits from increased capacity, rather than on speculative bitcoin growth. In conditions of high competition and hashprice volatility, this may be justified but requires careful management of debts and energy costs. If the trend continues, we may see either record quarterly revenues or the need to attract external financing to sustain such a growth pace.