Bitcoin
BTC$109,866.51
Mining company BitDeer (BTDR) has increased its self-recruiting capabilities and expanded its international business in May, according to the company’s monthly update.
The Singapore-based company mined 196 BTC last month. This has increased 18% since April, pushing for the rollout of Seal Minor A2 rigs across data centers in the US, Norway and Bhutan.
The company’s own hash rate is at 13.6 exhaush per second (EH/S), thanks to the energy of the SEALMINER A1 machine equivalent to 3.9 EH/S and the ongoing rollout energy of the A2 line.
Bitdeer also ships 1.6 EH/s SealMiner A2 units to external customers during the month, indicating an increase in mining hardware adoption.
The company’s infrastructure buildout is also increasing its pace. In Norway, 70 megawatts (MW) of the planned 175 MW expansion at Tydal is already online, with the remaining 105 MW expected to energize by the end of June.
In Bhutan, the Jigmering Site is planning to launch energy and add 368 MW, a total of 500 MW, online. The 221 MW facility in Masilon, Ohio is on track to be completed in stages until later this year.
The company’s reach is expanding into a new market. Bitdeer will prepare an Ethiopia 50 MW site with support from local partners, secure fully licensed property in Alberta, Canada, where it will build a natural gas power plant to support mining operations.
In May, Tether exercised a warrant from a previous round of funding, providing Bitdeer with $50 million in cash in exchange for more than five million shares. Looking ahead, Bitdeer says it is well on track to reach 40 Eh/s in self-mining capabilities by October.