Comment
Author: Admin | 2025-04-28
Based in North America, at sites in Texas, Tennessee and Washington and with further operations in Norway and Bhutan. With a clear strategy for a further 1 GW of power, Bitdeer has already commenced construction on a 175 MW data center expansion in Norway,as well as land preparation for the construction of a 221 MW data center in Ohio, in February 2024. Both facilities are expected to be completed by mid 2025.Bitdeer’s mining data center in Gedu, BhutanBusiness UnitsBitdeer currently has three business revenue streams associated with traditional Bitcoin Mining:Self miningHosting (General and Membership)Cloud hash rateThese services currently contribute robust margins to the company, as evidenced by the table below, taken from their latest quarterly update. The aggregate proprietary hash rate (comprising self-mining and cloud operations) generated total revenues equivalent to 54.4% of the total business in the last reported earnings update.The Research and Development team at Bitdeer has developed a cloud hash rate technology, which enables proactive hash rate sales and real-time energy consumption billing. This service allows customers to engage in remote Bitcoin mining and take advantage of Bitcoin price fluctuations for profit generation. Thus far, it has shown favorable gross margins, exceeding those of other business lines within the company.As can be seen from the graph below, in 2021 the company focused on proprietary hash rate, with the self mining and cloud hash rate making up to 90% of the total hash rate. As the price of Bitcoin started to fall in 2022, Bitdeer used its ability to strategically pivot to award more hosting contracts, with an emphasis on the cyclical nature of Bitcoin.The General and Membership hosting divisions achieved 30% and 20% in gross margins, respectively, contributing to a total gross margin of $12.14 million or 25% in the last reporting period. This has been a
Add Comment