Business
Bitdeer Announces July 2023 Operations Updates
SINGAPORE, Aug. 08, 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, Aug. 08, 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 July 2023. Linghui Kong, Chief Executive Officer of Bitdeer, commented, “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. Importantly, we mined 220 Bitcoins through our self-mining business in July, a 41% year-over-year increase. At the same time, we continued to curtail the power usage at our mining datacenter in Texas to help stabilize Texas’ electric power grid in response to the state’s extreme heat this summer, through which we continued to generate power credit.” “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 datacenter 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.” 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 MetricsJuly 2023June 2023July 2022Total hash rate under management1 (EH/s)20.618.812.1- Proprietary hash rate27.96.24.2• Self-mining3.83.82.3• Cloud Hash Rate1.61.61.9• Delivered but not yet energized2.50.8-- Hosting12.712.67.9Mining machines under management215,000199,000138,000- Self-owned385,00070,00054,000- Hosted130,000129,00084...