Bitdeer, a leading Bitcoin cloud mining and mining services company, is embarking on a significant expansion of its operations with the establishment of new data centers in Norway and Bhutan. These strategic initiatives aim to enhance the company’s infrastructure and increase its managed hash rate, reinforcing its position in the cryptocurrency mining industry.

Expanding Infrastructure and Managed Hash Rate

Bitdeer Technologies Group has recently shared operational updates for June 2023, underscoring their commitment to growth and development. Linghui Kong, the CEO of Bitdeer, expressed the company’s dedication to augmenting their business operations and expanding their infrastructure.

During June, construction commenced on a state-of-the-art 175MW immersion cooling data center at the Tydal mining facility in Norway. This cutting-edge facility, expected to be completed in 2025, will play a crucial role in Bitdeer’s expansion plans. Additionally, the company’s 100MW Gedu mining data center in Bhutan is set to begin operations in July, further bolstering their presence in the industry.

Bitdeer’s Diverse Offerings

Bitdeer operates across three core areas, providing a comprehensive range of services within the cryptocurrency mining sector. These areas include:

1. Self-Mining

Bitdeer enables users to directly participate in cryptocurrency mining, capturing the potential for high appreciation.

2. Hash Rate Sharing

The company offers cloud hash rate services through subscription plans, allowing customers to benefit from shared mining income.

3. Hosting

Bitdeer provides a comprehensive one-stop solution for mining machine hosting. This service includes deployment, maintenance, and management to optimize cryptocurrency mining operations.

Operational Achievements

Bitdeer’s recent operations report highlights notable achievements and progress made in various areas:

Expansion Plans

The CEO, Linghui Kong, outlined the company’s expansion strategy, revealing the commencement of operations at the Gedu mining data center in Bhutan and the ongoing construction of the Tydal mining facility in Norway. These endeavors demonstrate Bitdeer’s commitment to expanding its operations globally.

Electricity Capacity and Managed Hash Rate

In June, Bitdeer maintained a steady aggregate electricity capacity of 795MW. Furthermore, the company experienced an increase in the total managed hash rate, reaching an impressive 18.8 EH/s. These figures underscore Bitdeer’s robust infrastructure and ability to support substantial mining operations.

Share Repurchase Program

To add value for its shareholders, Bitdeer initiated a share repurchase program of up to $1 million. This program aims to enhance shareholder value and demonstrates the company’s dedication to its investors.

Operational Metrics

Bitdeer reported improvements in its operational metrics. The total managed hash rate increased from 18.0 EH/s in May 2023 to 18.8 EH/s in June 2023. Moreover, the number of mining machines in operation rose from 191,000 in May to 199,000 in June. These positive developments reflect Bitdeer’s commitment to scaling its operations and capitalizing on emerging opportunities in the cryptocurrency mining industry.

Growth of Gedu Datacenter

As of June 2023, Bitdeer’s Gedu Datacenter had received approximately 10,000 mining machines, including 8,000 new units. Additionally, an impressive 22,000 devices are in transit to the data center. Once operational in July 2023, these machines are expected to contribute an additional 100MW to the company’s aggregate electricity capacity.

Bitdeer’s recent operational updates highlight their relentless pursuit of expansion and innovation in the crypto mining industry. With the establishment of new data centers in Norway and Bhutan, along with their diverse range of services, the company is well-positioned to capitalize on the growing demand for cryptocurrency mining. Bitdeer’s commitment to enhancing shareholder value and continuously improving operational metrics solidify their standing as a leader in the industry.