Bhutan’s Bitcoin Mining Facility Is Complete, Says Bitdeer

Bhutan’s Bitcoin Mining Facility Is Complete, Says Bitdeer

Bitdeer, which Technology Group (NASDAQ: BTDR), based in Singapore, recently reported that it has completed its cutting-edge mining facilities in the Himalayan nation of Bhutan. This is a significant development that highlights the increasing importance of renewable energies in Bitcoin mining. The business revealed through Twitter that the facility, which is situated in Gedu, is now going through power-on testing and that a sizable number of its mining equipment are already running.

A Bitcoin Mining Facility Is About To Launch In Bhutan

Bitdeer’s CEO, Linghui Kong, commented on the company’s development and said, “We made substantial progress in both the operations and infrastructure fronts throughout July. Our overall hash rate under supervision increased consistently month over month and year over year. He went on to emphasize the business’ dedication to growing its operations, pointing out that in July, 220 Bitcoins were mined through its self-mining operation, representing a 41% compared to last year increase.

According to Bitdeer’s most recent operating update, the Gedu Datacenter received roughly 15,000 new mining equipment in July. Surprisingly, almost 11,000 of these devices are currently operating steadily as of the 7th of August 2023. When all of the newly bought mining equipment is turned on, the company estimates that it will provide a rate of hashing of about 2.5 EH/s. According to Ycharts, the hash rate of the whole Bitcoin network yesterday averaged around 380 EH/s, therefore the Bhutan extraction Facility will account for roughly 0.66% of the world’s total hash rate.

One of the largest BTC miners is Bitdeer

Jihan Wu co-founded Bitmain, which later became Bitdeer, which has been making headlines in the mining of Bitcoin industry. With a $1.18 billion valuation, the corporation went public on Nasdaq as of April through an acquisition company with a unique purpose merger. Following the completion of the Bhutan facility’s announcement, Bitdeer’s stock price has increased by 3.71%. Analyzing Bitdeer’s most recent performance data in greater detail reveals that the business has experienced remarkable operational growth. The overall hash rate managed by Bitdeer as of the seventh of July 2023 is a strong 20.6 EH/s. The patented hash rate contributes 7.9 EH/s, self-mining 3.8 EH/s, cloud encoded pace 1.6 EH/s, and an essential 2.5 EH/s from workstations that have been received but are not yet powered on. Also noted is the hosting hash rate, which is 12.7 EH/s.