Bitdeer Smashes Bitcoin Mining Records with 990 BTC Output
Bitdeer Technologies has set a new record for Bitcoin mining output, generating 990 BTC in June. This represents a growth of 7.5% from May's production of 921 BTC and a significant increase from the 203 BTC mined in June last year.
The company's hash rate has also increased to 73.0 EH/s in June, up from 70.2 EH/s in May. This implies that Bitdeer has employed more computing power in securing the Bitcoin network.
Bitdeer's success in Bitcoin mining is even more notable considering its expansion of AI infrastructure and other business areas. The company has seen a rise in annualized recurring revenue, which now stands at $76 million, up from $69 million. Additionally, GPU utilization has increased to 95%, from 90%.
Bitdeer's growth has also been reflected in its stock price, which rose by over 10% during the first trade of Tuesday. The company's expansion plans, including a new data center in Malaysia and the construction of a manufacturing facility in Nevada, are expected to further boost its capabilities.