Bitdeer Technologies, led by Singaporean entrepreneur Jihan Wu, has achieved a pivotal milestone with the completion of its cutting-edge mining facility in the captivating expanse of Bhutan. The company, renowned for its prominence in cryptocurrency mining, has embarked on the crucial phase of power-on testing, signifying a momentous leap forward in its operational journey.
Embodying the ethos of technological progress, Bitdeer CEO Linghui Kong confirmed the seamless integration and current operation of an impressive fleet of approximately 11,000 miners within the facility’s infrastructure. This achievement was bolstered by an influx of 15,000 additional mining units that arrived at the Gedu data center in Bhutan in July.
The commitment to pioneering technology is further underscored by the deployment of 23,000 newly acquired mining rigs at the Gedu site by the close of July. However, only a subset of these rigs has been activated. Once fully operational, these cutting-edge machines are poised to attain an extraordinary hash rate of about 2.5 EH/s, significantly fortifying Bitdeer’s stance in the fiercely competitive crypto-mining landscape.
Underscoring the company’s commitment to environmentally responsible practices, CEO Linghui Kong spotlighted Bitdeer’s admirable focus on energy conservation, particularly crucial in the heat-prone region of Texas. Amidst the challenges posed by elevated temperatures, the company has admirably upheld its power-saving initiatives, setting a remarkable example of dedication to sustainable practices.
In an achievement that redefines industry standards, Bitdeer’s autonomous mining endeavors yielded an impressive 220 Bitcoins in July alone, showcasing an astonishing year-on-year growth of 41%.
Attributed to the infusion of novel mining equipment at the Bhutanese facility, Bitdeer’s hash rate has witnessed a striking surge. By the culmination of July, the hash rate had surged to an impressive 7.9 EH/s, marking a substantial advancement from the 6.2 EH/s reported at June’s end.
Globally, all eyes are fixed on the unique collaboration between Bitdeer and Bhutan’s state-owned investment behemoth, Druk Holding and Investments. Unveiled in May, their ambitious proposition involves the establishment of a cryptocurrency mining fund with a daring objective of amassing up to $500 million in capital.
As Bitdeer navigates through the voyage of operational testing and hash rate augmentation, the industry anticipates a ripple effect that transcends borders. The strategic alliance with Bhutan’s investment authority epitomizes Bitdeer’s astute entry into a dynamic financial landscape, setting an innovative precedent within digital assets.