Bitdeer Mined 921 BTC in May but Held Only 171 BTC

Bitdeer reported it mined 921 BTC in May 2026 and held 171 BTC at month end, compared with 196 BTC mined and 1,351 BTC held in May 2025. The May 2026 figure combines self‑mining and co‑mining output; the May 2025 figure was labeled self‑mining only.

Self‑mining hashrate increased to roughly 70.2 EH/s from about 13.6 EH/s a year earlier. Year‑over‑year production rose sharply while the month‑end coin balance declined.

In the first quarter of 2026 Bitdeer reported mining 2,033 BTC, up from 350 BTC in Q1 2025. BTC held at quarter end was 31, down from 1,156 a year earlier. The company disclosed $206.8 million in proceeds from disposal of digital assets in Q1, $346.9 million of net cash used in operating activities, and $93.7 million in capital expenditures attributed to data center infrastructure, GPU purchases, tariffs and delivered mining rigs.

At quarter end the balance sheet showed about $1.9 billion in borrowings, $297.7 million in cash and equivalents, $188.9 million in revenue for the quarter and adjusted EBITDA of $14.4 million.

Bitdeer reported AI cloud annual recurring revenue near $69 million in May, with 4,248 GPUs deployed and 3,305 of those under external subscription at about 90% utilization. The company added two NVIDIA GB300 NVL72 clusters and support for NVIDIA Nemotron 3 in its model studio. In Q1 Bitdeer recognized $3.7 million of AI cloud revenue, reflecting the difference between ARR as a run‑rate metric and revenue recorded to date.

The company is converting its Tydal facility in Norway into an 180 MW AI data center. Filings state Tydal was in advanced negotiations with a potential colocation tenant and that completion could occur as early as December 2026.

Using a mid‑June bitcoin price near $62,800, Bitdeer’s May production would be worth roughly $58 million and the month‑end holdings about $11 million. Those are market estimates rather than company‑reported dollar values.

Company filings and monthly updates show production growth, asset disposals and mining proceeds alongside capital spending and debt. The May operating update reported 921 BTC mined and 171 BTC held at month end, and the company provided detailed figures on mining capacity, AI cloud metrics and capital deployment.