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Bitdeer Technologies Group (BTDR) has released its unaudited updates on mining and operations for August 2023.
CEO Linghui Kong stated, “In August, we progressed significantly in diversifying and scaling our global mining operations. Our Gedu Datacenter is now fully operational with around 30,000 energized mining machines, marking a critical milestone in our infrastructure development. This enhancement has increased our overall electrical capacity by 100 MW and added approximately 3.3 EH/s to our hash rate. Our self-mining efforts paid off as we mined 383 Bitcoins in August, reflecting annual and monthly growth of 124.0% and 74.1% respectively. Additionally, we reduced power consumption at our Texas datacenter to stabilize the state’s power grid during an extreme heat wave, allowing us to continue earning power credits. Moving forward, we will keep implementing our operational and infrastructure strategies with the aim of enhancing shareholder value.”
The company has three main business lines:
- Self-mining: This involves mining cryptocurrency for the company’s own account, enabling it to take advantage of the potential appreciation of these digital assets.
- Hash Rate Sharing: This service mainly includes Cloud Hash Rate, where the company offers subscription plans and shares mining revenue with clients under specific arrangements.
- Hosting: This provides a comprehensive hosting solution for mining machines, encompassing deployment, maintenance, and management to facilitate efficient cryptocurrency mining.
Operations Update
| Metrics | August 2023 | July 2023 | August 2022 |
|---|---|---|---|
| Total hash rate under management (EH/s) | 21.3 | 20.6 | 12.2 |
| – Proprietary hash rate | 8.7 | 7.9 | 4.3 |
| • Self-mining | 7.2 | 3.8 | 2.5 |
| • Cloud Hash Rate | 1.5 | 1.6 | 1.8 |
| • Delivered but not yet energized | – | 2.5 | – |
| – Hosting | 12.6 | 12.7 | 7.9 |
| Mining machines under management | 221,000 | 215,000 | 139,000 |
| – Self-owned | 92,000 | 85,000 | 55,000 |
| – Hosted | 129,000 | 130,000 | 84,000 |
| Aggregate electrical capacity (MW) | 895 | 795 | 689 |
| Bitcoin mined (self-mining only) | 383 | 220 | 171 |
Total hash rate under management is as of August 31, 2023, spanning the company’s core business segments: Self-mining, Cloud Hash Rate, and Hosting. Notably, the proprietary hash rate increased by approximately 0.8 EH/s from the prior month, attributed to the arrival of around 7,000 additional mining machines at the Gedu Datacenter in Bhutan. This datacenter’s full 100 MW capacity is now operational, supporting about 30,000 recently acquired machines that contribute around 3.3 EH/s to the self-mining operations.
Infrastructure Update
The Gedu Datacenter was fully energized and operational in August 2023, contributing an additional 100 MW to the company’s total electrical capacity. It provides support for approximately 30,000 mining machines, generating about 3.3 EH/s of hash rate. Located in Asia, this datacenter operates sustainably, utilizing Bhutan’s plentiful hydroelectric power.
Contact Information
Investor Relations
Robin Yang, Partner
ICR, LLC
Email: [email protected]
Phone: +1 (212) 537-5825
Public Relations
Brad Burgess, SVP
ICR, LLC
Email: [email protected]
Phone: +1 (212) 537-4056
Forward-Looking Statements
This announcement may contain forward-looking statements. Actual results may differ due to various factors, including those detailed in the company’s filings. The company has no obligation to update any forward-looking statements after the date of this release.
