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Bitdeer Technologies Group, a company specializing in Bitcoin cloud mining and mining services, has published operational updates for June 2023, emphasizing ongoing initiatives to enhance infrastructure and boost the managed hash rate.
Linghui Kong, the Chief Executive Officer of Bitdeer, remarked,
“In June, we advanced our initiatives to expand and develop our business… We also achieved notable progress in enhancing our infrastructure by starting the construction of a 175MW immersion cooling datacenter at our Tydal mining facility in Norway, which is anticipated to be finished in 2025.“
Bitdeer operates across three primary sectors, providing a wide range of services within the cryptocurrency mining field. These encompass self-mining, which enables the company to harness the significant appreciation potential of cryptocurrency directly; hash rate sharing, primarily consisting of the company’s cloud hash rate, where it provides hash rate subscription plans and shares mining revenue with clients; and hosting, which includes a comprehensive mining machine hosting solution, covering deployment, maintenance, and management services for effective cryptocurrency mining.
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Operations report highlights
Kong detailed the company’s expansion strategies, indicating that its 100MW Gedu mining data center in Bhutan is scheduled to begin operations in July, while another major project involving the construction of a 175MW immersion cooling data center at the Tydal mining facility in Norway is in progress, with completion expected in 2025.
Bitdeer’s total electricity capacity remained stable at 795MW in June, and the overall managed hash rate saw an increase, reaching 18.8 EH/s. The company also launched a share repurchase program of up to $1 million to enhance “additional shareholder value.”
Bitdeer reported a minor improvement in its operational metrics. The total managed hash rate rose from 18.0 EH/s in May 2023 to 18.8 EH/s in June 2023. The count of operational mining machines also grew, reaching 199,000 in June compared to 191,000 in May.
As per the update, by the end of June 2023, around 10,000 mining machines, including approximately 8,000 new units, had been delivered to Bitdeer’s Gedu Datacenter. An additional 22,000 units are reportedly en route to the data center, which is expected to add an extra 100MW to the company’s total electricity capacity once it becomes operational in July 2023.
The post Bitdeer pushes crypto mining expansion with new Norway, Bhutan data centers appeared first on CryptoSlate.
