Bitdeer increased bitcoin mining by 370% year-over-year: the company's hashrate surged to 70.2 EH/s
Bitdeer miner demonstrates impressive growth dynamics: in May of this year, the company mined 921 BTC, a 370% increase compared to May last year, when only 196 BTC were mined. This surge was made possible by aggressive scaling of computing power.
The company's own hash rate over the same period increased by nearly 420% — from 13.6 EH/s to 70.2 EH/s. This indicates that Bitdeer is actively expanding its equipment fleet, likely using the latest ASIC miners and optimizing operational costs. Notably, this significant hash rate growth outpaces the rate of mining increase, which may point to a temporary lag between deploying capacity and reaching full performance.
However, the dynamics of the company's bitcoin treasury are interesting. In May, Bitdeer increased its reserves by 98 BTC, bringing them to 171 BTC. A year ago, this figure stood at 1,351 BTC. A 87% reduction in the treasury over the year, alongside rising mining output, is a strategically significant signal. Most likely, Bitdeer prefers to lock in profits at current price levels, converting mined coins into fiat or stablecoins to finance further expansion.
Analytical conclusion: Bitdeer demonstrates one of the most aggressive scaling strategies among public miners. A 420% hash rate growth in a year is not just numbers, but evidence that the company is betting on market share rather than coin storage. If current rates continue, Bitdeer could enter the top three miners by hash rate within the next few quarters. However, investors should closely monitor debt levels and the efficiency of new capacity — in the face of the upcoming halving, profitability will become a key factor.