Bitdeer demonstrates explosive growth: Bitcoin mining increased by 370% year-over-year
Mining company Bitdeer continues to confidently strengthen its position in the market. According to the latest data, 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 impressive growth was made possible by a massive expansion of computing power.
The company's own hash rate over the same period grew by nearly 420% — from 13.6 EH/s to 70.2 EH/s. This indicates that Bitdeer is actively investing in infrastructure and equipment upgrades, aiming to take a leading position in the industry. The increase in hash rate against the backdrop of the overall rise in Bitcoin network difficulty underscores the effectiveness of the company's strategy.
However, it is worth noting some changes in reserve management. During May, Bitdeer increased its Bitcoin treasury by 98 BTC, bringing it to 171 BTC. For comparison, a year ago this figure stood at 1,351 BTC. The significant reduction in reserves is likely due to sales of part of the mined coins to fund operational activities or investments in capacity expansion.
From my perspective, Bitdeer's dynamics reflect a general trend among major miners: they seek to maximize mining output while managing liquidity amid market volatility. A 420% increase in hash rate is not just a number, but evidence of aggressive expansion that could shift the balance of power in the sector. Nevertheless, the reduction in the treasury raises questions: perhaps the company is betting on current market prices rather than long-term holding. In any case, Bitdeer is worth watching closely in the coming quarters.