Business
Bitdeer Announces November 2023 Operations Updates
SINGAPORE, Dec. 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, Dec. 07, 2023 (GLOBE NEWSWIRE) -- Bitdeer Technologies Group (NASDAQ: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for blockchain and high-performance computing, today announced its unaudited mining and operations updates for November 2023. Linghui Kong, Chief Executive Officer of Bitdeer, commented, “During November, our core business performed steadily and new growth opportunities emerged. Importantly, we became a Preferred Cloud Service Provider in the NVIDIA Partner Network, and announced our plans to launch Bitdeer AI Cloud, a cloud service powered by NVIDIA’s DGX SuperPOD systems. Bitdeer AI Cloud will be among the first cloud services in Asia to be powered by cutting-edge DGX H100 systems. We anticipate that the service will launch in the first quarter of 2024, and we expect expanding demand for generative AI capabilities to fuel its success.” “We mined 403 Bitcoins in total in November, representing a year-over-year increase of 81.5%. Our Gedu Datacenter remained fully operational during November, providing us with 3.3EH/s hash rate, and mining 209 Bitcoins, representing approximately 51.9% of our Bitcoins mined for the month. On the infrastructure front, our 175MW immersion cooling datacenter at our Tydal mining facility in Norway remains on course for completion in 2025. Looking ahead, we will continue to advance our long-term initiatives and prudently execute our operational strategies to generate sustainable 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 MetricsNovember 2023October 2023November 2022Total hash rate under management1 (EH/s)21.121.214.0- Proprietary hash rate28.78.74.2• Self-mining7.17.22.5• Cloud Hash Rate1.61.51.7- Hosting12.412.59.8Mining machines under management220,000221,000153,000- Self-owned392,00092,00052,00...