Business
Bitdeer Announces August 2023 Operations Updates
SINGAPORE, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Bitdeer Technologies Group (NASDAQ: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for
About this update from Bitdeer Technologies Group
[{"type":"text","content":"SINGAPORE, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Bitdeer Technologies Group (NASDAQ: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for the cryptocurrency mining community, today announced its unaudited mining and operations updates for August 2023. Linghui Kong, Chief Executive Officer of Bitdeer, commented, “During August, we continued to deliver on our commitment to diversify and scale our global mining business, as our Gedu Datacenter entered full operations with approximately 30,000 mining machines energized. This represents a major milestone in our infrastructure expansion, boosting our aggregate electrical capacity by 100MW and adding approximately 3.3EH/s to our proprietary hash rate. Our development initiatives are already bearing fruit, as we mined 383 Bitcoins through our self-mining business in August, representing annual and monthly increases of 124.0% and 74.1%, respectively. Meanwhile, we curtailed the power usage at our mining datacenter in Texas to help stabilize Texas’ electric power grid in response to the state’s extreme heat in August, through which we continued to earn power credits. Going forward, we will continue to prudently execute on our operational and infrastructure strategies to generate long-term shareholder value.” The Company primarily operates three distinct business lines: Self-mining refers to cryptocurrency mining for the Company’s own account, which allows it to directly capture the high appreciation potential of cryptocurrency.Hash Rate Sharing currently primarily includes Cloud Hash Rate, in which the Company offers hash rate subscription plans and shares mining income with customers under certain arrangements.Hosting encompasses a one-stop mining machine hosting solution including deployment, maintenance, and management services for efficient cryptocurrency mining. Operations Update MetricsAugust 2023July 2023August 2022Total hash rate under management1 (EH/s)21.320.612.2- Proprietary hash rate28.77.94.3• Self-mining7.23.82.5• Cloud Hash Rate1.51.61.8• Delivered but not yet energized-2.5-- Hosting12.612.77.9Mining machines under management221,000215,000139,000- Self-owned392,00085,00055,000- Hosted129,000130,00084,000Aggregate electrical capacity4 (MW)895795689Bitcoin mined (self-mining only)5383220171 1 Total hash rate under management as of August 31, 2023 across th...