Bitdeer’s Bitcoin Output Climbs to 990 as AI Cloud Run Rate Reaches $76M

Bitdeer Technologies Group mined 990 bitcoin in June, up 7.5% from 921 in May and 388% higher than the 203 mined a year earlier, according to an SEC filing. Self-mining computing power reached 73 exahashes per second (EH/s) at month-end, compared with 70.2 EH/s in May and 16.5 EH/s a year ago. The number of self-mining machines increased by 12,000 to 243,000.

Bitdeer also operated 56,000 mining machines at third-party data centers under co-mining arrangements, up from 39,000 in May, contributing 15.9 EH/s of computing power (up 59% month-over-month). The growth reflects its strategy of manufacturing proprietary SEALMINER machines and deploying them in its own or partner facilities. The company recently broke ground on a $36 million manufacturing plant in Sparks, Nevada, which is expected to be completed by year-end with capacity to produce 10,000 machines per month.

Bitdeer held 150 bitcoin at the end of June, down from 171 a month earlier despite higher production, indicating outflows exceeded mined amounts. The company does not disclose monthly bitcoin sales directly.

Alongside mining, Bitdeer’s AI Cloud annualized revenue run rate reached $76 million in June, up from $69 million in May. GPU utilization rose to 95% from 90%, and GPUs under external subscription grew to 3,517 from 3,305. The run rate is calculated by annualizing daily revenue from contractually obligated GPU orders active on the last day of the month and is not recognized annual revenue or a forward forecast.

The company completed customer deliveries under a five-year GPU cloud contract after deploying two Nvidia GB300 NVL72 clusters, though it did not disclose the customer or contract value. Bitdeer also signed a 10-year lease for a data center in Johor Bahru, Malaysia, providing 21.7 MW of IT capacity, scheduled for handover in Q1 2027, planned to support 128 Nvidia GB300 NVL72 systems. That capacity adds to the 4,248 GPUs deployed as of June 30.

The Malaysia agreement broadens Bitdeer’s AI infrastructure footprint as it evaluates converting parts of its roughly 3-gigawatt global power portfolio from bitcoin mining to AI cloud or colocation. Projects under review include its Rockdale, Texas, and Molde, Norway, sites, with conversions underway or planned in Tennessee, Washington state, and Tydal, Norway.

Bitdeer’s AI operations remain small compared to bitcoin mining in reported financials. AI Cloud generated $3.7 million in Q1 revenue, while self-mining contributed $146.9 million. The company reported a Q1 net loss of $159.5 million, driven by higher electricity, depreciation, and interest costs as it expanded its mining fleet.

Bitdeer shares rose 9.7% on Tuesday, closing at $12.48.

Source: https://news.bitcoin.com/bitdeers-bitcoin-output-climbs-to-990-as-ai-cloud-run-rate-reaches-76m/