Bitdeer mines 990 BTC; AI Cloud run rate $76M

Bitdeer Technologies Group mined 990 bitcoin in June, a 7.5% increase from May, the company reported in a U.S. Securities and Exchange Commission filing.

June production compared with 921 bitcoin in May and 203 in June a year earlier, a 388% year-over-year increase. Self-mining computing power reached 73 exahashes per second (EH/s) at the end of June, up from 70.2 EH/s in May and 16.5 EH/s a year earlier. Bitdeer deployed an additional 12,000 machines during June, bringing its self-mining fleet to 243,000 units.

The company operated 56,000 machines at third-party data centers under co-mining arrangements, up from 39,000 in May; computing power tied to those operations rose 59% month over month to 15.9 EH/s. Bitdeer designs and manufactures its SEALMINER machines and broke ground in June on a $36 million manufacturing plant in Sparks, Nevada, which it expects to complete by year-end with capacity to produce 10,000 machines per month.

Bitdeer held 150 bitcoin at the end of June, down from 171 at the end of May. The company’s monthly production reports do not disclose direct monthly bitcoin sales.

On the AI side, Bitdeer reported its AI Cloud annualized revenue run rate increased to about $76 million in June from $69 million in May. The company calculates the run rate by annualizing daily revenue from contractually obligated GPU orders active on the final day of the month and cautioned the figure is not recognized annual revenue or a forward revenue forecast. GPU utilization rose to 95% from 90%, and GPUs under external subscription increased to 3,517 from 3,305. As of June 30, Bitdeer had deployed 4,248 GPUs.

Bitdeer completed customer deliveries under a five-year GPU cloud contract after deploying two Nvidia GB300 NVL72 clusters; the company did not identify the customer or disclose the contract value.

The company signed a 10-year lease in June for a Johor Bahru, Malaysia, data center providing 21.7 megawatts of information-technology capacity, scheduled for handover in the first quarter of 2027 and planned to support 128 Nvidia GB300 NVL72 systems. The filing shows Bitdeer is evaluating converting portions of its roughly 3-gigawatt global power portfolio from bitcoin mining to AI cloud or colocation use, with projects under review in Rockdale, Texas, and Molde, Norway, and conversions underway or planned in Tennessee, Washington state and Tydal, Norway. A colocation lease for the Tydal facility was signed in June but has not become effective and remains subject to conditions; Bitdeer has not disclosed the tenant or commercial terms.

In reported financial results, AI Cloud generated $3.7 million of revenue in the first quarter, while self-mining produced $146.9 million. Bitdeer reported a net loss of $159.5 million in the first quarter, which it attributed to higher electricity, depreciation and interest costs as it expanded its mining fleet. Bitdeer’s shares rose 9.7% on the production update, closing at $12.48 on Tuesday.