Bitdeer increased bitcoin mining by 370% year-over-year: hash rate surged nearly 420%
In May of this year, Bitdeer demonstrated an impressive leap in production metrics. The volume of mined bitcoin reached 921 BTC, a 370% increase compared to May of last year, when only 196 BTC were mined. This growth indicates a large-scale expansion of mining capacities and an effective equipment deployment strategy.
The company's proprietary hash rate increased by nearly 420% over this period, from 13.6 EH/s to 70.2 EH/s. This suggests that Bitdeer is actively increasing its computing power, possibly through the commissioning of new facilities or the modernization of existing capacities. This growth rate significantly outpaces industry averages, which may be linked to an aggressive investment program and access to cheap energy sources.
Simultaneously, Bitdeer increased its bitcoin treasury by 98 BTC in May, bringing it to 171 BTC. However, it is worth noting that a year ago this figure stood at 1,351 BTC. The reduction in reserves over the long term may indicate the sale of some mined cryptocurrency to fund operational activities or capital expenditures, which is a standard practice for public mining companies.
Analytical commentary: The 370% increase in mining output alongside a 420% rise in hash rate demonstrates that Bitdeer has not only expanded capacity but also maintained a high level of efficiency. However, the 87.3% year-over-year decline in bitcoin treasury (from 1,351 to 171 BTC) is concerning: it may signal that the company prefers to lock in profits amid market volatility rather than accumulate assets. In the current cycle, such an approach may be justified, but investors should closely monitor the further dynamics of reserves.