Bitdeer increased bitcoin mining by 370% year-over-year: hash rate surged by 420%
Mining company Bitdeer is demonstrating impressive growth dynamics: in May of this year, its bitcoin mining volume reached 921 BTC, a 370% increase compared to 196 BTC in the same period last year. This is one of the highest growth rates among public miners, indicating an aggressive scaling strategy.
Key Hashrate and Treasury Metrics
The company's proprietary hashrate for the reporting period increased by nearly 420% — from 13.6 EH/s to 70.2 EH/s. This surge was made possible by the commissioning of new equipment and the expansion of data centers. Notably, Bitdeer continues to build its reserves: in May, the bitcoin treasury volume grew by 98 BTC, reaching 171 BTC. However, it is worth noting that a year ago this figure stood at 1,351 BTC, indicating significant asset sales over the year.
Analysis and Conclusions
The 370% increase in mining output alongside a 420% rise in hashrate suggests that the company is operating with high efficiency, but not without losses. The decline in treasury from 1,351 BTC to 171 BTC over the year may be linked to the need to finance expansion or hedge risks. In the current market conditions, where mining difficulty continues to rise, such a strategy appears justified: Bitdeer is betting on scale, sacrificing short-term accumulation. In my professional opinion, this is a reasonable approach to maintaining long-term competitiveness, especially in light of the upcoming halving.