Bitdeer Technologies Group (NASDAQ: BTDR), a technology company for blockchain and high-performance computing, recently announced its unaudited mining and operations updates for December 2023.
Linghui Kong, Chief Executive Officer of Bitdeer, commented:
“In December, we continued to generate positive results in our core business and posted another solid performance. We mined 434 Bitcoins in total in December, a 7.7% increase from the month prior and a 149.4% increase from December 2022. This success came despite our retiring of approximately 6,000 legacy mining machines. Meanwhile, our Gedu Datacenter remained fully operational during December, providing us with 3.3EH/s hash rate, and mining 230 Bitcoins, representing approximately 53.0% of our Bitcoins mined for the month. We also added a new general hosting customer in December, which contributed to a month-over-month increase in our hosting hash rate.”
As noted in the update:
“Construction of our 175MW immersion cooling datacenter at our Tydal mining facility in Norway has continued, and remains on track to finish by mid-2025. Meanwhile, we are planning to commence construction of a 221MW datacenter in Ohio, United States, as part of our ongoing strategy to expand our electrical capacity. This construction is also expected to be completed in 2025.”
The announcement also mentioned that “on the AI cloud service front, they received delivery of our initial NVIDIA DGX H100 systems during December, and have begun to install and test them.”
Based on their progress so far, they expect the cloud service platform “to launch during the first quarter of 2024.”
As they head into the new year, they are eager “to replicate the magnitude of success we experienced in 2023.” They also look forward “to embracing new opportunities while executing on their core business, and they remain committed to building lasting shareholder value through the coming year.”
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.