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Bitdeer, the Singapore-based crypto mining company, has reached 35 EH/s in mining power. The company now ranks fifth among public crypto mining companies in terms of mining power.
Bitdeer has officially moved ahead of Riot Platforms thanks to its new Sealminer equipment. The new batch of Sealminer rigs adds an extra five exa-hashes per second (EH/s) to the overall mining capacity of the company.
Bitdeer earned 20.5% more BTC
In September, Bitdeer earned 452 BTC. That’s a jump of 20.5% from 375 BTC coins, which were earned in August. The company’s total hash rate increased by 15.5% in September. The mining power jumped from 30.3 EH/s to 35 EH/s in one month. The addition of five exa-hashes helped the company earn more Bitcoin.
Moreover, Bitdeer’s realized hashrate increased from 24.64 EH/s to 32.74 EH/s, increasing performance and effectiveness. Bitdeer is the biggest fifth mining company based on hashrate power. It trails MARA, CleanSpark, Cango, and IREN based on data from BitcoinMiningStock.
Hash rate of public Bitcoin miners. Source: BitcoinMiningStock.The company stated that the boost in mining power is due to its in-house Sealminer rigs, in addition to energizing new mining sites located in Tydal, Norway, and Jigmeling, Bhutan. The company wants to reach a mining power of 40 EH/s by the end of October.
After that, Bitdeer stated that it will retire older and less efficient third-party equipment to enhance profitability.
Bitdeer designs new BTC mining rigs
So far, Bitdeer has built 34.2 EH/s worth of Sealminer A2 rigs. Around 22.6 EH/s are already running, and another 5.5 EH/s are on the way.
The company launched its new Sealminer A3 series last month and started mass production in October. Bitdeer will utilize the new equipment in its own facilities.
In terms of technology, the crypto mining company has finished designing the SEAL04 chip and sent it for fabrication. During the early testing phase, the chip proved that it can consume less than 10 J/TH in energy use. This is still far from the company’s goal of a 5 J/TH target.
Matt Kong, Chief Business Officer (CBO) at Bitdeer, said, “Over the coming quarters, we will continue expanding our SEALMINER fleet into our near-term global power capacity, putting us on track to become one of the largest vertically integrated miners in the world.”
Last month, Bitdeer AI, the AI cloud arm of the crypto mining company, reached $8 million in annualized revenue. The company has 584 GPUs deployed with a utilization rate of 86%. It also aims to double its capacity and add 1,160 GPUs by the end of 2025.
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