Bitdeer Announces May 2026 Production and Operations Update
Rhea-AI Summary
Bitdeer (NASDAQ:BTDR) reported its May 2026 production and operations update, highlighting growth in Bitcoin mining and AI infrastructure.
Bitcoin production reached 921 BTC, up 370% year-over-year, with self-mining hash rate at 70.2 EH/s. AI Cloud annual recurring revenue was approximately $69 million at 90% GPU utilization, and total global electrical capacity reached 3,003.5 MW, including online and pipeline projects.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Positive
- Bitcoin production of 921 BTC in May 2026, a 370% Y/Y increase
- Self-mining hash rate 70.2 EH/s vs 13.6 EH/s in May 2025
- Total hash rate under management 83.1 EH/s vs 27.4 EH/s a year earlier
- AI Cloud ARR approximately $69M with 90% GPU utilization in May 2026
- Deployment of 2 NVIDIA GB300 NVL72 clusters expanding AI GPU capacity
- Total global electrical capacity 3,003.5 MW across online and pipeline sites
Negative
- AI Cloud GPU utilization decreased to 90% from 92% month-over-month
- BTC held 171 at May 2026 vs 1,351 at May 2025
- Massillon, OH 21 MW energization shifted into phased Q3 2026 timing
- Reconstruction of two fire-damaged Massillon buildings (26 MW) ongoing through end of Q3 2026
- Clarington, OH 570 MW project timing may be affected by ongoing legal proceedings
News Market Reaction – BTDR
On the day this news was published, BTDR gained 1.17%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jun 02 | Alberta facility build | Positive | +1.4% | Groundbreaking for 101 MW Alberta energy and high-performance computing facility. |
| Jun 01 | Miner launch | Positive | +5.8% | Launch of SEALMINER DL1 Hydro with high Scrypt hash rate and efficiency. |
| May 14 | Q1 2026 results | Neutral | +11.6% | Strong revenue growth but swing to net loss with positive adjusted EBITDA. |
| May 12 | April ops update | Positive | -2.6% | Significant growth in BTC mined, hash rate, GPUs, and AI ARR to ~$69M. |
| May 01 | Earnings call notice | Neutral | +4.9% | Scheduling of Q1 2026 earnings release and conference call details. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
BTDR has generally reacted positively to growth and operations news, with one recent divergence on an April operations update.
Regulatory & Risk Context
Short interest appears elevated, suggesting positioning that can increase volatility and leave room for sharp moves if sentiment or liquidity conditions change.
Key Terms
asic technical
scrypt algorithm technical
self-mining technical
annualized recurring revenue financial
utilization rate technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Monthly Highlights
- Bitcoin: Production increased
370% Y/Y to 921 Bitcoin - SEALMINERs: Recent launch of SEALMINER DL1 Hydro, designed for Scrypt algorithm mining with Bitdeer’s proprietary ASIC technology with hydro-cooling thermal management system
- Colocation: Executing on colocation lease agreements is THE top priority for management, with Tydal, Norway site in advanced stages of negotiations
- AI Cloud: Deployment and production launch of 2 units of NVIDIA GB300 NVL72 clusters, further expanding Bitdeer AI Cloud’s advanced GPU infrastructure
| Key Metrics Summary | ||||||
| Global Energy Capacity | Self-Mining Hash Rate1 | Co-Mining Hash Rate2 | Self-Mining Rigs | BTC Mined | AI Cloud ARR | Colocation AI Data Center |
| 3.0 GW | 70.2 (EH/s) | 10.0 (EH/s) | 231K | 921 | ~ | Tydal, Norway in advanced stages of negotiations |
SINGAPORE, June 18, 2026 (GLOBE NEWSWIRE) -- Bitdeer Technologies Group (NASDAQ: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for AI and Bitcoin mining infrastructure, today announced its unaudited operations updates for May 2026.
Management Commentary
“May reflected continued execution across Bitdeer's AI infrastructure platform. AI Cloud ARR held at approximately
Crypto Mining Update:
CRYPTO Mining, R&D, Manufacturing:
- Mined 921 Bitcoins3, an increase of
370% Y/Y; we continue to expect momentum in our mining results over the coming months. - Self-mining hash rate reached ~70.2 EH/s. Co-mining hashrate of 10.0 EH/s driven by Co-Mining collaboration, using Bitdeer’s mining rigs operated in 3rd party datacenters
- Recent launch of SEALMINER DL1 Hydro, designed for Scrypt algorithm mining with Bitdeer’s proprietary ASIC technology with hydro-cooling thermal management system
Key Crypto Metrics:
| Metric | May 2026 | April 2026 | May 2025 |
| Hash Rate Metrics: | |||
| Self-Mining (Operated in self-owned datacenters) | 70.2 | 65.5 | 13.6 |
| Other Proprietary Hash Rate4 | 4.7 | 5.3 | 0.1 |
| Hosting5 | 8.2 | 8.2 | 13.7 |
| Total Hash Rate under Mgmt.6 (EH/s) | 83.1 | 79.0 | 27.4 |
| Co-Mining (Operated in 3rd party datacenters) | 10.0 | 8.4 | - |
| Mining Rig Metrics: | |||
| Self-Mining | 231,000 | 218,000 | 103,000 |
| Hosted | 46,000 | 46,000 | 86,000 |
| Total Mining Rigs under Mgmt. | 277,000 | 264,000 | 189,000 |
| Co-Mining | 39,000 | 33,000 | - |
| BTC Mined3 | 921 | 783 | 196 |
| BTC Held7 | 171 | 73 | 1,351 |
Bitdeer AI Update:
Colocation AI Data Center:
- Bitdeer is in advanced stages of negotiations with a potential colocation tenant for Tydal, Norway and remains in active dialogue in Ohio, Texas and various other sites.
AI Cloud Key Metrics:
| Metric | May 2026 | April 2026 | ||
| GPU Amount Deployed | 4,248 | 4,184 | ||
| GPU Types | H100, H200, B200, GB200, GB300 | H100, H200, B200, GB200 | ||
| Utilization Rate8 | ||||
| GPUs Under External Subscription | 3,305 | 3,323 | ||
| ARR9 | ~ | ~ | ||
- GB300 Deployment and Launch: Successfully completed the deployment and production launch of 2 units of NVIDIA GB300 NVL72 clusters, further expanding Bitdeer AI Cloud’s advanced GPU infrastructure and enabling support for next-generation AI training and inference workloads at scale.
- Deployed NVIDIA Nemotron 3 Nano Omni on Day 0 of its launch onto the Bitdeer AI Model Studio via a streamlined, serverless inference API. This significantly expands enterprise model optionality, accelerating the transition from experimentation to production-ready workflows.
- Participated in the Oslo Tech Show 2026 in Norway, strategically expanding our European footprint. Delivered a keynote address highlighting next-generation data centers and resilient networks designed to support large-scale AI infrastructure.
Infrastructure Summary:
| Site | (MW) Capacity | Energization Timing10 | Planned Usage | Construction Update | |
| Online Electrical Capacity: | |||||
| 1) | Rockdale, TX | 563 | Online | Crypto to Colocation / AI Cloud | In active evaluation of AI transition |
| 2) | Knoxville, TN – phase 1 | 37 | Q4 ‘26 | Crypto to AI Cloud | Phase 1 AI data center conversion design work initiated, targeting to complete by Q4 ’26. |
| 3) | Knoxville, TN – phase 2 | 49 | Q1 ‘27 | ||
| 4) | Wenatchee, WA | 13 | Q4 ‘26 | Crypto to AI Cloud | AI data center design documents and building permit application submitted for approval. Core equipment is being delivered in succession; we plan to begin with a GB300 cluster. Dismantling of the crypto mining datacenter started in March 2026. Completion targeted Q4 ’26. |
| 5) | Molde, Norway | 84 | Online | Crypto and in early assessment of converting to AI Cloud | |
| 6) | Tydal, Norway – phase 1 | 50 | Q4 ‘26 | Crypto to Colocation | Planning and design continue to advance. Orders for critical long-lead equipment have been placed on an ongoing basis. Engaged Data Center Installations AS as Bitdeer’s design and construction partner for Tydal AI datacenter conversion. |
| 7) | Tydal, Norway – phase 2 | 175 | Q4 ‘26 | ||
| 8) | Gedu, Bhutan | 100 | Online | Crypto | |
| 9) | Jigmeling, Bhutan | 500 | Online | Crypto | |
| 10) | Oromia Region, Ethiopia | 50 | Online | Crypto | Construction of the 50 MW site has been completed and energized, with ongoing energization in phases driven by SEALMINER deliveries. |
| 11) | Massillon, OH | 174 | Online | Crypto | |
| 12) | Cyberjaya, Malaysia11 | 2 | Online | AI Cloud | |
| Online Electrical Subtotal: | 1,797 | ||||
| Pipeline Electrical Capacity: | |||||
| 1) | Massilon, OH | 21 / 26 | Q3 ’26 | Crypto | Due to delivery delays for key electrical components, 21 MW is expected to be energized in phases during Q3 ’26. Reconstruction of the two fire-damaged buildings (26MW) is currently underway and expected to be rebuilt and energized by the end of Q3’ 26. A significant portion of the reconstruction cost has now been successfully recovered through the supplier’s insurance coverage. |
| 2) | Clarington, OH | 570 | To be updated | Colocation / Crypto | 570 MW of power under contract with a local utility. Timing of power availability and construction may be affected by ongoing legal proceedings filed by a neighboring company, American Heavy Plate Solutions, LLC., which is under extensive influence from MHR, a New York based PE firm founded by Mark H. Rachesky. Design and other preparation work continues. |
| 3) | Niles, OH | 300 | Q4 ‘28 | Colocation / AI Cloud | 300 MW grid-interconnected development site, with target energization in Q4 ‘28. The project includes 41.8 acres of owned land and a transmission line extension agreement with a local utility company. |
| 4) | Rockdale, TX | 179 | 2026 | Colocation / AI Cloud | In Planning |
| 5) | Fox Creek, Alberta, Canada | 101 | Q2 ‘27 | Crypto | 101 MW site acquired, fully licensed and permitted for the construction of an on-site natural gas power plant. Assessing current design potential to accommodate future AIDC requirements. We were pleased to host a successful groundbreaking ceremony on June 1st, 2026, joined by Minister Dale Nally, Minister Todd Loewen, the Reeve of the MD of Greenview, and the Mayor of Fox Creek. |
| 6) | Cyberjaya, Malaysia11 | 9.5 | Q4 ‘26 | AI Cloud | In Progress |
| Pipeline Electrical Subtotal: | 1,206.5 | ||||
| Total Global Electrical Capacity: | 3,003.5 | ||||
Upcoming Conferences and Events
- June 18, 2026: Roth London Conference
- June 23, 2026: Northland Capital Markets Growth Conference - Virtual
Footnotes
1 Self-Mining (Operated in self-owned datacenters) refers to cryptocurrency mining for Bitdeer’s own account, whereby its mining rigs are operated in self-owned datacenters
2 Co-mining (Operated in 3rd party datacenters) refers to cryptocurrency mining for Bitdeer’s own account, whereby its mining rigs are operated in third-party datacenters
3 Includes BTC from self-mining operations and BTC from co-mining operations.
4 Other Proprietary Hash Rate includes the hashrate from Bitdeer’s cloud hashrate business, mining rigs delivered in the crypto mining datacenters but not deployed and the mining rigs temporarily offline due to limited economic benefit.
5 Hosting encompasses a one-stop mining machine hosting solution including deployment, maintenance, and management services for efficient cryptocurrency mining.
6 Total hash rate under management as of May 30, 2026, across Bitdeer’s primary business lines: Self-mining, Cloud Hash Rate, and Hosting.
7 Bitcoins held does not include Bitcoins from customer deposits but does include Bitcoins that are pledged as collateral by us.
8 Utilization Rate as of the last day of the respective month is calculated as the total number of GPUs under internal and external orders divided by the total number of deployed GPUs.
9 ARR as of the last day of the respective month is calculated by multiplying the daily revenue generated from all contractually obligated GPU orders on that specific day by 365. This metric provides an annualized view of the revenue run-rate based on active contracts at the end of the reporting period.
10 Indicative timing for completion of power. All timing references are to calendar quarters and years.
11 Capacity under lease arrangement.
About Bitdeer Technologies Group
Bitdeer is a world-leading technology company for AI and Bitcoin mining infrastructure. Bitdeer is committed to providing comprehensive Bitcoin mining solutions for its customers and building AI computational infrastructure to support the AI revolution. Bitdeer handles complex processes involved in computing such as equipment procurement, transport logistics, data center design and construction, equipment management, and daily operations. Bitdeer also offers advanced cloud capabilities to customers with high demand for artificial intelligence. Headquartered in Singapore, Bitdeer has deployed data centers across multiple countries, including the United States, Norway, Bhutan, and Ethiopia. To learn more, visit https://ir.bitdeer.com/ or follow Bitdeer on X@Bitdeer and LinkedIn @Bitdeer.
Investors and others should note that Bitdeer may announce material information using its website and/or on its accounts on social media platforms, including X, formerly known as Twitter, Facebook, and LinkedIn. Therefore, Bitdeer encourages investors and others to review the information it posts on the social media and other communication channels listed on its website.
Forward-Looking Statements
Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. The words “anticipate,” “look forward to,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including factors discussed in the section entitled “Risk Factors” in Bitdeer’s annual report on Form 20-F, as well as discussions of potential risks, uncertainties, and other important factors in Bitdeer’s subsequent filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof. Bitdeer specifically disclaims any obligation to update any forward-looking statement, whether due to new information, future events, or otherwise. Readers should not rely upon the information on this page as current or accurate after its publication date.
For investor and media inquiries, please contact:
Investor Relations
Tesh Dahya, Head of Investor Relations
tesh.dahya@bitdeer.com
Media
Elev8 New Media
Jessica Starman, MBA
bitdeer@elev8newmedia.com
