Bitdeer Technologies Group, a Singapore-based company, has reported a significant tripling in Bitcoin mining for the month of September 2023. The company's Gedu mining data center in Bhutan was instrumental in this surge, accounting for 45% of the increase.
Bitdeer Technologies Group, a Singapore-based company, has reported a significant tripling in Bitcoin mining for the month of September 2023. The company's Gedu mining data center in Bhutan was instrumental in this surge, accounting for 45% of the increase. This information was revealed on Friday.
On Thursday, Bitdeer announced that it mined 482 Bitcoins in September, marking a 25.8% increase from August. This growth was primarily attributed to their new Gedu mining data center. The firm currently manages 221,000 mining machines and maintains an electrical capacity of 895MW for its self-mining and Cloud Hash Rate businesses. The mined cryptocurrencies are promptly converted into fiat.
The company's CEO, Linghui Kong, credits their success to their self-mining business and a consistent 895MW electrical capacity. Bitdeer's strategic development focuses on three key areas, including Hash Rate Sharing with customer income sharing and comprehensive hosting services.
In addition to its operations in Bhutan and the US, Bitdeer is also constructing a 175MW immersion cooling data center in Norway, known as the Tydal Datacenter project. This new project is expected to be completed by 2025. As of now, the company manages a total hash rate of 21.2 EH/s and a proprietary hash rate of 8.7 EH/s.
Bitdeer's operations span across self-mining, hash rate sharing, and hosting services. With a total hash rate of 21.2 EH/s, the firm continues to expand its reach in the cryptocurrency mining industry.
Bitdeer Technologies Group, the Singapore-based crypto mining platform controlled by mogul Jihan Wu, saw its shares surge 122% over the past month as the company announced a share buyback amid traditional financial firms’ renewed interest in digital assets.