Bitdeer Technologies Group mined 990 bitcoin in June, a 7.5% increase from 921 bitcoin in May, according to an operations update filed with the US Securities and Exchange Commission on Tuesday. The Singapore-based company's production rose 388% from 203 bitcoin a year earlier. The increase resulted from the continued deployment of Bitdeer's proprietary SEALMINER machines across its own facilities and third-party data centers. Alongside mining expansion, the company's AI Cloud annualized revenue run rate reached approximately $76 million, up from $69 million in May, as GPU utilization climbed to 95%. Bitdeer is executing a dual-business strategy that involves designing and manufacturing its own mining equipment while converting portions of its global power portfolio from bitcoin mining to AI cloud infrastructure.
Bitdeer's Bitcoin Mining Production Reaches 990 BTC in June
Bitdeer's self-mining computing power reached 73 exahashes per second at the end of June, compared with 70.2 EH/s in May and 16.5 EH/s a year earlier. The number of machines deployed for self-mining rose by 12,000 during the month to 243,000. The company also operated 56,000 of its mining machines at third-party data centers under co-mining arrangements, up from 39,000 in May. The computing power associated with those operations increased 59% month over month to 15.9 EH/s. Bitdeer held 150 bitcoin at the end of June, down from 171 a month earlier, indicating that outflows during the month exceeded the amount mined. The company does not disclose monthly bitcoin sales directly in its production reports.
AI Cloud Business Achieves $76M Annualized Run Rate
Bitdeer's AI Cloud annualized revenue run rate increased to approximately $76 million from $69 million in May. GPU utilization rose to 95% from 90%, while the number of GPUs under external subscription increased to 3,517 from 3,305. The run-rate figure is not recognized annual revenue or a forward revenue forecast. Bitdeer calculates it by annualizing the daily revenue generated from contractually obligated GPU orders active on the final day of the month. The company completed customer deliveries under a five-year GPU cloud contract following the deployment of two Nvidia GB300 NVL72 clusters. It did not identify the customer or disclose the contract value.
Bitdeer Signs 10-Year Lease for Malaysia Data Center
Bitdeer signed a 10-year lease for a data center in Johor Bahru, Malaysia, providing 21.7 megawatts of information-technology capacity. The facility is scheduled to be handed over in the first quarter of 2027 and is planned to support 128 Nvidia GB300 NVL72 systems. That capacity is in addition to the 4,248 GPUs Bitdeer had deployed as of June 30. The Malaysia agreement broadens Bitdeer's AI infrastructure footprint as it evaluates converting portions of its roughly 3-gigawatt global power portfolio from bitcoin mining to AI cloud or colocation use. Projects under evaluation include its Rockdale, Texas, and Molde, Norway, sites, while conversions are underway or planned in Tennessee, Washington state and Tydal, Norway. Bitdeer signed a colocation lease for its Tydal facility in June, but the agreement has not become effective. It remains subject to conditions involving external arrangements by the counterparty, and Bitdeer has yet to disclose the tenant, commercial terms or expected financial contribution.
Nevada Manufacturing Plant Construction Begins
Bitdeer broke ground this month on a $36 million manufacturing plant in Sparks, Nevada. The company expects to complete the facility by year-end with capacity to produce 10,000 machines a month. The growth reflects Bitdeer's strategy of designing and manufacturing its own SEALMINER machines and deploying much of that equipment into its own or third-party facilities.
Bitdeer Reports Q1 Financial Results
The company's growing AI operations remain small compared with bitcoin mining in reported financial results. AI Cloud generated $3.7 million of revenue in the first quarter, while self-mining contributed $146.9 million. Bitdeer reported a $159.5 million first-quarter net loss, reflecting higher electricity, depreciation and interest costs as it expanded its mining fleet. Bitdeer shares were up 9.7%, closing at $12.48 on Tuesday.
FAQ
What did Bitdeer produce in June?
Bitdeer Technologies Group mined 990 bitcoin in June, a 7.5% increase from 921 bitcoin in May and a 388% increase from 203 bitcoin a year earlier, according to an SEC filing on Tuesday.
How much is Bitdeer's AI Cloud business generating?
Bitdeer's AI Cloud annualized revenue run rate reached approximately $76 million in June, up from $69 million in May. GPU utilization rose to 95% from 90%. The run-rate figure is calculated by annualizing daily revenue from contractually obligated GPU orders active on the final day of the month.
What facility did Bitdeer sign a lease for in June?
Bitdeer signed a 10-year lease for a data center in Johor Bahru, Malaysia, providing 21.7 megawatts of IT capacity. The facility is scheduled for handover in the first quarter of 2027 and is planned to support 128 Nvidia GB300 NVL72 systems.
