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Bitdeer mines 2,694 BTC in Q2 despite shrinking BTC holdings
The miner ended the quarter with 150 BTC, down 90% from a year earlier, after liquidating its 943 BTC treasury in February.
Bitdeer increased its Bitcoin mining output in the second quarter, producing 2,694 BTC, up nearly fivefold from 565 BTC a year earlier, according to its Q2 report published Monday, as reported by Cointelegraph.
Despite higher production, the company ended Q2 holding just 150 BTC on its balance sheet, down 90% from 1,502 BTC a year earlier. Cointelegraph also notes Bitdeer liquidated its entire 943 BTC treasury in February, saying the move reflected liquidity decisions rather than a change away from its core mining business.
Beyond mining, Bitdeer has expanded into AI data centers and high performance computing, including signing a 16 year lease worth $4.7 billion for 121 megawatts of AI computing capacity in Norway.
On the financial side, Cointelegraph says Bitdeer reported $228.8 million in Q2 revenue, up 47% from $155.6 million a year earlier, with self mining revenue accounting for $168.4 million as average self mining hashrate rose 389% to 69.5 exahashes per second. The company’s net loss widened to $92.3 million from $62.9 million, and its shares rose 1.5% in premarket trading after a 15% decline over the prior month.
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