- Bitdeer CEO Linghui Kong highlighted the company’s operational strength, stating that Bitcoin mining through their mining operations saw an impressive increase of 25.8% compared to the previous month.
- Beyond their mining operations, Bitdeer’s operations encompass three main business lines. These include Hash Rate Sharing, which specifically includes Cloud Hash Rate and offers subscription plans for Bitdeer hash rates.
- Bitdeer is expanding not only its Bitcoin mining capabilities but also its infrastructure. The company is continuing to build a 175 MW immersion cooling data center at its mining facility in Norway.
Singapore-based Bitdeer Technologies Group published its September report on Bitcoin mining; The company’s moves increase efficiency.
Bitdeer Triples Its Bitcoin Production
Singapore-based Bitdeer Technologies Group has released its September 2023 report on Bitcoin mining, showcasing remarkable growth. A total of 482 Bitcoins were mined in September, nearly tripling the amount from the same period last year. Notably, the Gedu mining data center alone produced about 45% of the total Bitcoin mined in September, generating 217 Bitcoins.
The primary reason for this increase lies in the company’s operational efficiency, strategic business focus, and the stable operations of the newly constructed Gedu mining data center in Bhutan. Bitdeer CEO Linghui Kong emphasized the company’s operational strength, noting an impressive 25.8% increase in Bitcoin mining through their mining operations compared to the previous month.
According to Kong, the company’s success in mining is attributed to Bitdeer maintaining its total electrical capacity at a stable 895 MW. Highlighting the broader impact of these operational efficiencies, Kong stated:
“As we move forward into the rest of the year, we are confident that by focusing on strategic business development, we will strengthen our results and deliver long-term value for our shareholders.”
In addition to their mining operations, Bitdeer’s operations encompass three main business lines. These include Hash Rate Sharing, which specifically includes Cloud Hash Rate and offers subscription plans for Bitdeer hash rates, sharing mining revenue with customers. Hosting is a comprehensive mining machine hosting solution that includes distribution, maintenance, and management services for effective cryptocurrency mining.
Bitdeer’s operational update as of September 30 shows a total managed hash rate of 21.2 EH/s across its three main business lines, with a private hash rate of 8.7 EH/s. Bitdeer manages 221,000 mining machines.
Company Expanding Infrastructure
Bitdeer is not only expanding its Bitcoin mining capabilities but also its infrastructure. The company continues to build a 175 MW immersion cooling data center at its mining facility in Norway. This expansion is part of Bitdeer’s ongoing efforts to enhance its infrastructure and expand its capacity. The Tydal Data Center is expected to be completed by 2025.
Bitdeer, as an industry player, offers meaningful insights into the dynamics of the cryptocurrency mining industry through its operational updates. The company’s focus on optimizing operations, expanding infrastructure, and strategic business development forms the foundation of its growth and provides valuable lessons for other organizations in the crypto space. Bitdeer, with distributed mining data centers in the United States, Norway, and Bhutan, continues to offer comprehensive digital asset mining solutions to its customers.
