Bitdeer Reports Robust Operational Performance for October 2023 - Blockchain.News

Bitdeer Reports Robust Operational Performance for October 2023

Jessie A Ellis Nov 08, 2023 10:04

Bitdeer Technologies Group, a leading Bitcoin mining company, has seen steady operational performance in October 2023, with strategic developments like Tydal Datacenter construction highlighting its long-term success.

Bitdeer Reports Robust Operational Performance for October 2023

Singapore-based Bitdeer Technologies Group (NASDAQ: BTDR), a global frontrunner in the cryptocurrency mining industry, has released its unaudited operational metrics for October 2023, showcasing sustained robust performance and strategic advancements. Throughout the month of October, both the hash rate and the electrical capacity remained stable, which was praised by the CEO Linghui Kong. He brought out the fact that the Gedu Datacenter in Bhutan had contributed 3.3EH/s to the overall hash rate as well as 211 Bitcoins, which accounted for more than half of the entire Bitcoin production for the month. The ongoing construction of the Tydal Datacenter in Norway, which is anticipated to be completed in the year 2025, serves as an instance of the company's devotion to the advancement of technology as well as the rise in shareholder value.

Bitdeer is a firm that operates in three key business areas, including self-mining for the goal of directly acquiring bitcoin, hash rate sharing including cloud hash rate plans, and complete hosting services for the maintenance of mining rigs. These three business sectors are all part of Bitdeer's overall operations.

The most significant operational figures for the month of October 2023 indicated an unchanged total hash rate of 21.2 EH/s, with 221,000 mining machines under administration and an aggregate electrical capacity of 895MW across six datacenters. Despite the fact that Bitcoin mining slowed down somewhat from September to October, year-over-year production of the cryptocurrency increased by a significant 173.4%.

On the infrastructure front, Bitdeer is advancing its 175MW immersion cooling datacenter in Norway and will be actively participating in upcoming industry conferences, reinforcing its position in the digital assets landscape​​.

The fact that Bitdeer has operating presences in a variety of nations, including the United States of America, Norway, and Bhutan, is evidence of the company's commitment to provide all-encompassing solutions for the mining of digital assets. Bitdeer is responsible for handling all aspects of the mining process, from procurement to day-to-day operations.

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