Bitdeer Mined 220 Bitcoin in July

Bitdeer Technologies Group (NASDAQ: BTDR), a leading technology company in the cryptocurrency mining community headquartered in Singapore, announced its unaudited mining and operations updates for July 2023 on August 7, 2023.

The company, committed to providing comprehensive digital asset mining solutions, handles complex processes involved in mining, including miner procurement, transport logistics, mining data center design and construction, mining machine management, and daily operations. Bitdeer has mining data centers deployed in the United States and Norway.

The total hash rate under management reached 20.6 EH/s as of July 31, 2023, compared to 18.8 EH/s in June 2023 and 12.1 EH/s in July 2022. The proprietary hash rate increased to 7.9 EH/s from 6.2 EH/s as of June 30, 2023. Bitdeer mined 220 Bitcoins through its self-mining business in July, marking a 41% year-over-year increase.

However, this was a 7.9% decline compared to June 2023, primarily due to the decrease in the average transaction fee of mining activities and strategic curtailment of power usage at the company's mining data center in Texas.

The number of mining machines under management increased to 215,000 in July 2023 from 199,000 in June 2023 and 138,000 in July 2022. This includes 385,000 self-owned and 130,000 hosted machines.

The construction of the Gedu Datacenter in Bhutan was completed, with power-on testing underway. An additional 15,000 mining machines arrived at the data center in July, and as of August 7, 2023, around 11,000 miners were running stably.

Bitdeer continued to curtail power usage at its mining data center in Texas to help stabilize the state's electric power grid in response to extreme heat, generating power credit. The aggregate electrical capacity remained consistent at 795 MW across five mining data centers as of July 31, 2023.

Linghui Kong, Chief Executive Officer of Bitdeer, commented on the updates, stating, "We made significant strides on both the operational and infrastructure fronts during July. Our total hash rate under management saw steady year-over-year and monthly growth as we successfully expanded both our self-owned and hosted mining machines under management, underscoring our commitment to scaling our operations."

He further added, "With the construction of our Gedu Datacenter in Bhutan now completed, and power-on testing underway, we have made notable progress in securing our future growth. I'm pleased to announce an additional 15,000 mining machines arrived at the data center in July, and as of today, we already have around 11,000 miners running stably. I am incredibly proud of the progress we have made, and look forward to continuing our momentum as we go forward."