Bitdeer Provides April 2024 Operations Update

May 7, 2024 by No Comments

SINGAPORE, May 07, 2024 — Bitdeer Technologies Group (NASDAQ: BTDR) (“Bitdeer” or the “Company”), a leading technology company for blockchain and high-performance computing, today provided its unaudited mining and operations updates for April 2024. Linghui Kong, Chief Business Officer of Bitdeer, commented, “April marked a period of stable operations for our company as we made steady progress towards our long-term development goals. We mined a total of 265 Bitcoins in April, representing an increase of 13.7% from the same period last year and a decline of 9.9% from March 2024. This month-over-month decline was related to the impact of the latest Bitcoin halving event, which occurred on April 19, 2024. Our Gedu datacenter maintained stable operations throughout April, thanks largely to our power pricing agreement for the site, which has allowed us to operate the site with lower costs and without the need to curtail datacenter activity. “In terms of infrastructure, the ground leveling work at our Jigmeling datacenter site in Bhutan is progressing as planned. Currently, around 70% of the ground leveling work for substation construction has been completed. We have also confirmed with our suppliers the purchase plan for the electrical equipment required for the substation, which is expected to happen in June 2024. In the meantime, we are continuing to promote the development of our AI cloud service and ASIC mining machine projects, which are currently proceeding smoothly.” The Company primarily operates three distinct business lines: Self-mining refers to cryptocurrency mining for the Company‚Äôs 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. Operations Update MetricsApril 2024March 2024April 2023Total hash rate under management1 (EH/s)22.322.518.3- Proprietary hash rate28.48.45.6- Self-mining6.76.74.0- Cloud Hash Rate1.71.71.6- Hosting13.914.112.7Mining machines under management224,000226,000196,000- Self-owned386,00086,00066,000- Hosted