Bitdeer Technologies' Bitcoins Mined in June Jumps 35.8% Y/Y

Bitdeer Technologies Group BTDR said Bitcoin mined in June 2023 increased by 35.8% on a year-over-year basis.

The proprietary hash rate as of June 30, 2023, increased by approximately 0.8 EH/s from 5.4 EH/s as of May 31. The growth is attributable to the arrival of roughly 8,000 newly-purchased mining machines at the Company's Gedu mining data center in Bhutan.

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, which is expected to contribute an additional 100MW to the company's aggregate electricity capacity.

The Gedu Datacenter is also 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 also began constructing a 175MW immersion cooling data center in Tydal, Norway. 

The expansion of the Tydal Datacenter is expected to be completed in 2025.

Price Action: BTDR shares are trading higher by 5.78% to $13.37 on the last check Monday.