Bitdeer Technologies Group mined 921 bitcoin in May, up 370% from a year earlier, as the company accelerated its transition from pure mining toward AI infrastructure.
"May reflected continued execution across Bitdeer's AI infrastructure platform," Michael G. Potter, chief financial officer of Bitdeer, said in the June 18 statement.
Self-mining hashrate rose to 70.2 EH/s from 65.5 EH/s in April and 13.6 EH/s a year ago, while co-mining hashrate reached 10.0 EH/s. The company deployed 231,000 self-mining rigs, up from 218,000 in April. AI Cloud annualized recurring revenue held at about $69 million with 90% GPU utilization, as the company deployed GB300 NVL72 clusters and made Nemotron 3 available. Bitdeer held 171 bitcoin at month-end, up from 73 in April but down from 1,351 a year earlier after selling most of its treasury.
The results come as public bitcoin miners face a structural shift. VanEck estimates miners pursuing AI and high-performance computing face a roughly $50 billion near-term funding gap, with Bitdeer trading at among the lowest multiples on energized power among peers. Tydal, Norway — where Bitdeer is in advanced negotiations for what would be Norway's largest AI data center — represents the most visible proof point of the company's strategy to convert owned power into long-duration contracted revenue across its 3.0 GW global portfolio.
Bitcoin's mining difficulty fell 10.09% to 124.93 trillion on June 14, one of the largest downward adjustments in the network's history, as roughly 100 EH/s of computing power came offline during a single difficulty epoch. The decline reflects both weak hashprice — near $29 per PH/s per day — and a broader reallocation as North America's largest public miners increasingly reserve power for AI tenants rather than bitcoin mining.
Bitdeer's pipeline includes 1,206.5 MW of additional electrical capacity under development, including a 570 MW site in Clarington, Ohio, and a 300 MW site in Niles, Ohio, targeted for colocation and AI cloud use. The company also held a groundbreaking ceremony June 1 for a 101 MW natural gas-powered site in Fox Creek, Alberta, designed to accommodate future AI data center requirements.
This article is for informational purposes only and does not constitute investment advice.
