Bitdeer Announces June 2023 Operations Updates
“We also unveiled a share repurchase program of up to
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.
|Total managing hash rate1 (EH/s)||10.5||18.0||18.8|
|- Proprietary hash rate2||4.2||5.4||6.2|
|Amount of managing mining machines||119,000||191,000||199,000|
|Aggregate electricity capacity4 (MW)||522||795||795|
|Bitcoin mined (self-mining only) 5||176||283||239|
1 Total managing hash rate as of
2 Proprietary hash rate as of
3 Self-owned mining machines are for the Company’s self-mining business and
4 Aggregate electricity capacity was across five mining datacenters as of
5 Bitcoin mined in
- Approximately 10,000 mining machines arrived at the Gedu Datacenter at the end of
June 2023, including around 8,000 newly-purchased mining machines. There are approximately 22,000 mining machines currently in transit to the Gedu Datacenter. The Gedu Datacenter is expected to commence operations in July 2023, upon which it is expected to contribute an additional 100MW to the Company’s aggregate electricity capacity, and is expected to support the operation of more than 30,000 mining machines that are expected to supply an additional 3.3 EH/s to the Company’s proprietary hash rate.
- The Company began construction of a 175MW immersion cooling datacenter in Tydal,
Norway(the “Tydal Datacenter”). The expansion of the Tydal Datacenter is expected to be completed in 2025.
Bitdeer is a world-leading technology company for the cryptocurrency mining community headquartered in Singapore. Bitdeer has committed to providing comprehensive digital asset mining solutions for its customers. Bitdeer handles complex processes involved in mining such as miner procurement, transport logistics, mining datacenter design and construction, mining machine management and daily operations. Bitdeer has mining datacenters deployed in the United States and Norway. To learn more, visit https://ir.bitdeer.com/.
Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. The words “anticipate,” “look forward to,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including factors discussed in the section entitled “Risk Factors” in Bitdeer’s annual report on Form 20-F, as well as discussions of potential risks, uncertainties, and other important factors in Bitdeer’s subsequent filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof. Bitdeer specifically disclaims any obligation to update any forward-looking statement, whether due to new information, future events, or otherwise. Readers should not rely upon the information on this page as current or accurate after its publication date.
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Source: Bitdeer Technologies Group