Singaporean entrepreneur Jihan Wu’s Bitdeer Technologies has completed the construction of its cutting-edge mining facility nestled in the picturesque landscape of Bhutan. The company, at the forefront of cryptocurrency mining, has now commenced the crucial power-on testing phase, marking a significant step forward in its operational journey.
As Bitdeer CEO Linghui Kong affirmed, an impressive fleet of approximately 11,000 miners has been seamlessly integrated into the facility’s infrastructure and is currently operational. This achievement comes from a sizable influx of mining equipment – an additional 15,000 units – that arrived at the Gedu data center in Bhutan in July.
Reinforcing its commitment to technological advancement, Bitdeer revealed that 23,000 recently procured mining rigs had graced the Gedu site by the close of July. However, it’s noteworthy that only some of these rigs have been activated. Once fully operational, these cutting-edge machines are projected to yield an astounding hash rate of around 2.5 EH/s, fortifying Bitdeer’s stance in the competitive crypto-mining landscape.
CEO Linghui Kong also highlighted Bitdeer’s commendable stance on energy conservation, particularly pertinent in the heat-stricken region of Texas. Despite the challenges posed by high temperatures, the company has valiantly upheld its power-saving initiatives, exemplifying its dedication to sustainable practices.
In an industry-defining achievement, Bitdeer’s autonomous mining endeavors extracted 220 bitcoins in July alone, showcasing a remarkable year-on-year growth of 41%.
Attributed to the infusion of new mining equipment in the Bhutanese facility, Bitdeer’s hash rate has witnessed a notable surge. At the culmination of July, the hash rate soared to an impressive 7.9 EH/s, marking a substantial advancement from the 6.2 EH/s reported at the end of June.
The global cryptocurrency community is now gazing toward the unique collaboration between Bitdeer and Bhutan’s state-owned investment powerhouse, Druk Holding and Investments. Their ambitious proposal, unveiled in May, entails the creation of a cryptocurrency mining fund with an audacious goal of accumulating up to $500 million in capital.
As Bitdeer continues its odyssey of operational testing and hash rate augmentation, the industry anticipates a ripple effect that extends beyond borders. The partnership with Bhutan’s investment authority symbolizes Bitdeer’s strategic foray into a dynamic financial landscape and sets a precedent for innovation within digital assets.
