Bitdeer Experiences 66% Year-Over-Year Decline in Bitcoin Production for September
In a noteworthy announcement, Bitdeer has revealed a significant 66% drop in self-mined Bitcoin production for September, with only 164 BTC mined compared to 482 BTC in the same month last year.
Despite this decline in self-mining, Bitdeer is progressing in its mining rig manufacturing and research and development initiatives. The company confirmed that mass production of its SEALMINER A1 machines is scheduled for Q4, which is expected to contribute an additional 3.4 EH/s to its proprietary hashrate.
The company has also successfully completed the first production phase of its SEAL02 chip, achieving an impressive efficiency of 13.5 J/TH to adapt to evolving market demands.
Bitdeer’s Hash Rate Decline and Recovery in Hosting Segment
In its latest operations update, Bitdeer reported a decrease in total hash rate under management, dropping to 17.1 EH/s from 21.2 EH/s a year earlier. However, the company’s hosting segment demonstrated resilience, showing a sequential increase of 0.3 EH/s due to the integration of newer, more efficient mining machines by clients.
Linghui Kong, Chief Business Officer of Bitdeer, stated that the firm recognizes Bitcoin miners’ growing demand for “diversified technology solutions and supply chain flexibility.” This demand will be addressed by the second-generation chip that will power the upcoming SEALMINER A2 machines, slated for mass production by the end of 2024.
Bitdeer remains dedicated to expanding its operational infrastructure, with several key projects in progress across Texas, Norway, and Bhutan. The company aims to activate its Tydal, Norway, phase 1 expansion by December and plans to complete a hydro-cooling conversion in Rockdale, Texas, between December and February 2025.
