As a seasoned researcher with a keen interest in the dynamic world of Bitcoin mining, I find the recent developments at Bitdeer both intriguing and indicative of the industry’s evolving landscape. The 66% year-over-year drop in self-mined Bitcoins might seem disheartening at first glance, but it’s crucial to remember that the mining business, like any other, ebbs and flows with market conditions.
In simpler terms, Bitdeer announced that the amount of Bitcoin they mined themselves decreased by 66% when comparing September 2024 to September 2023. They produced 164 Bitcoins this past September, whereas last year in September they had mined 482 Bitcoins.
According to Bitdeer, a company specializing in Bitcoin (BTC) mining, there’s been a substantial decrease in the self-mined Bitcoin amount year on year. Specifically, they mined only 164 BTC in September 20XX, which is a drop of 66% compared to the same month in 2023.
According to a press release issued on October 3rd, Bitdeer stated that even though the self-mined Bitcoins have decreased, they are still advancing in their production and research of mining rigs. The company affirmed that the large-scale manufacturing of its SEALMINER A1 devices is on track for Q4, which is anticipated to increase their proprietary hashrate by 3.4 Exahash per second (EH/s).
The company is making headway with the SEAL02 chip too; this chip has just wrapped up its initial manufacturing stage with an efficiency of 13.5 Joules per Terahertz (TH), a move aimed at adapting to shifting market demands.
Bitdeer sees total hash rate drop but hosting segment recovers
In its recent update, Bitdeer reported that the total hash rate they manage dropped to 17.1 exahash per second (EH/s), which is a decrease from 21.2 EH/s a year ago. However, their hosting segment appears to be on the mend, with a 0.3 EH/s rise sequentially, thanks to clients adding newer and more efficient mining machines to their operations.
According to Linghui Kong, the chief business officer at Bitdear, the company thinks that Bitcoin miners are looking for “a wider range of technological options and supply chain adaptability.” This is the reason why Bitdear’s second-generation chip will be used in SEALMINER A2 mining machines, which are planned to start mass production by the end of 2024.
The firm noted it remains committed to expanding its operational infrastructure, with several key projects underway in Texas, Norway, and Bhutan. While Bitdeer aims to energize its Tydal, Norway, phase 1 expansion by December, it also plans to complete a hydro-cooling conversion in Rockdale, Texas, between December and February 2025.
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2024-10-03 16:50