Bitdeer reported explosive growth in Bitcoin mining: +370% year-over-year
May became a landmark month for the mining company Bitdeer. According to my data, the volume of mined coins reached 921 BTC — a colossal jump of 370% compared to the 196 BTC recorded in May last year. This impressive dynamic is directly linked to the aggressive expansion of computing power.
The company's own hash rate over the same period grew by almost 420% — from 13.6 EH/s to 70.2 EH/s. This indicates a large-scale investment program and modernization of the equipment fleet. Bitdeer is clearly betting on increasing its share in the global network, and the current results confirm the effectiveness of the chosen strategy.
However, against the backdrop of production growth, a curious trend in reserve management is observed. In May, the company added only 98 BTC to its treasury, bringing its volume to 171 BTC. For comparison, a year ago this figure stood at 1351 BTC. Such a reduction in reserves may indicate that Bitdeer prefers to sell the mined coins on the market rather than accumulate them, possibly to finance operating expenses or further capacity expansion.
My analysis: A 420% increase in hash rate with "only" a 370% increase in production may indicate a temporary decline in efficiency due to the introduction of new equipment or an increase in network difficulty. Nevertheless, this is clearly a positive signal for investors, demonstrating Bitdeer's ambitions to establish itself among the industry leaders. The only question is how sustainable this expansion will prove amid Bitcoin's volatility and growing competition.