Bitdeer recorded explosive growth in bitcoin mining: the figure surged by 370% year-over-year.
Analyzing the latest data on the mining industry, I noticed the outstanding results of Bitdeer. In May of this year, the company increased its bitcoin mining volume to 921 BTC, which is 370% higher than the figure for the same period last year, when only 196 BTC were mined.
This surge was made possible by the aggressive expansion of computing power. The company's own hash rate over the same period soared by almost 420% — from 13.6 EH/s to an impressive 70.2 EH/s. This indicates a strategic focus on equipment modernization and data center scaling, which is a critical factor amid growing competition in the sector.
Notably, despite active mining, Bitdeer also increased its bitcoin reserves. In May, the company's treasury added 98 BTC, reaching 171 BTC. However, it is worth noting that a year ago this figure was significantly higher — 1,351 BTC. This decline may indicate a shift in asset management strategy: some of the mined coins were likely sold to finance operating expenses or reinvested in capacity expansion.
A 370% growth is undoubtedly a strong signal for the market. However, investors should consider that such a pace may be temporary, driven by the commissioning of new installations. In the long term, the key question will remain Bitdeer's ability to maintain high margins amid the approaching halving and rising energy costs.