Bitdeer's Bitcoin Mining Output Surges Fivefold in Q2
Bitdeer's Bitcoin mining output skyrocketed nearly fivefold in Q2 to 2,694 BTC, up from 565 BTC a year earlier. This significant increase was reported in the company's Q2 report published on Monday.
The miner ended the quarter with a much smaller balance sheet, holding only 150 BTC, down 90% from last year's figure of 1,502 BTC. In February, Bitdeer liquidated its entire 943 BTC treasury due to liquidity decisions.
Bitdeer has been expanding beyond Bitcoin mining into AI data centers and high-performance computing. The company recently signed a massive 16-year lease in Norway for 121 megawatts of AI computing capacity valued at $4.7 billion.
The company's revenue reached $228.8 million, a 47% increase from the same period last year. Self-mining revenue accounted for $168.4 million of this total, with Bitdeer's average self-mining hashrate jumping 389% to 69.5 exahashes per second.