Bitdeer’s May output jumps to 921 Bitcoin as AI Cloud grows
Rhea-AI Impact(High)Rhea-AI Sentiment(Positive)Bitdeer (NASDAQ:BTDR)reported its May 2026 production and operations update, highlighting growth in Bitcoin mining and AI infrastructure. Bitcoin production. . .
Rhea-AI Impact(High)Rhea-AI Sentiment(Positive)Bitdeer (NASDAQ:BTDR)reported its May 2026 production and operations update, highlighting growth in Bitcoin mining and AI infrastructure. Bitcoin production reached921 BTC, up 370% year-over-year, with self-mining hash rate at70. 2 EH/s. AI Cloud annual recurring revenue was approximately$69 millionat 90% GPU utilization, and total global electrical capacity reached3,003. 5 MW, including online and pipeline projects. Loading. . . Loading translation. . . AI-generated analysis. Not financial advice. PositiveBitcoin production of 921 BTC in May 2026, a 370% Y/Y increaseSelf-mining hash rate 70. 2 EH/s vs 13. 6 EH/s in May 2025Total hash rate under management 83. 1 EH/s vs 27. 4 EH/s a year earlierAI Cloud ARR approximately $69M with 90% GPU utilization in May 2026Deployment of 2 NVIDIA GB300 NVL72 clusters expanding AI GPU capacityTotal global electrical capacity 3,003. 5 MW across online and pipeline sitesNegativeAI Cloud GPU utilization decreased to 90% from 92% month-over-monthBTC held 171 at May 2026 vs 1,351 at May 2025Massillon, OH 21 MW energization shifted into phased Q3 2026 timingReconstruction of two fire-damaged Massillon buildings (26 MW) ongoing through end of Q3 2026Clarington, OH 570 MW project timing may be affected by ongoing legal proceedingsBTC mined921 BTCMay 2026, up 370% year-over-yearAI Cloud ARR~$69MMay 2026, at 90% GPU utilizationGlobal energy capacity3. 0 GWTotal global electrical capacity across portfolioSelf-mining hash rate70. 2 EH/sMay 2026 self-mining operationsCo-mining hash rate10. 0 EH/sMay 2026 co-mining in third-party datacentersSelf-mining rigs231,000 rigsSelf-mining rigs under management in May 2026GPUs deployed4,248 GPUsBitdeer AI Cloud deployed GPUs in May 2026GPU utilization rate90%Bitdeer AI Cloud utilization in May 2026BTDRtraded down while close software peers were mixed, with some gains and some losses, indicating the move appears more company-specific than part of a broad sector rotation. DateEventSentimentMoveCatalystJun 02Alberta facility buildPositive+1. 4%Groundbreaking for 101 MW Alberta energy and high-performance computing facility. Jun 01Miner launchPositive+5. 8%Launch of SEALMINER DL1 Hydro with high Scrypt hash rate and efficiency. May 14Q1 2026 resultsNeutral+11. 6%Strong revenue growth but swing to net loss with positive adjusted EBITDA. May 12April ops updatePositive-2. 6%Significant growth in BTC mined, hash rate, GPUs, and AI ARR to ~$69M. May 01Earnings call noticeNeutral+4. 9%Scheduling of Q1 2026 earnings release and conference call details. Pattern DetectedBTDR has generally reacted positively to growth and operations news, with one recent divergence on an April operations update. Short Interest39. 76%of shares outstandingas of 2026-05-29Days to cover: 4. 54Short interest appears elevated, suggesting positioning that can increase volatility and leave room for sharp moves if sentiment or liquidity conditions change. This announcement highlights sustained growth in BTC production to921 BTCand stable AI Cloud ARR near$69Mon a3. 0 GWportfolio. Prior updates have usually been well-received, though elevated short interest adds volatility risk to future news flow. asictechnical"with Bitdeer’s proprietary ASIC technology with hydro-cooling thermal"ASIC is Australia’s corporate, markets and financial services regulator that enforces rules for companies, financial advisers and market operators; think of it as the referee and rulebook keeper for financial activity. It matters to investors because ASIC’s oversight, investigations and enforcement actions affect company credibility, legal risk and market fairness—actions that can change stock prices, investor confidence and the safety of financial products. scrypt algorithmtechnical"SEALMINER DL1 Hydro, designed for Scrypt algorithm mining with"scrypt algorithm is a computer method originally designed to turn passwords into secure codes and, in cryptocurrencies, to create the mining puzzle that secures a blockchain by requiring not just raw computing power but substantial memory use. It matters to investors because the algorithm determines which mining hardware and energy costs are effective, shaping mining profitability, network security and the rate new coins enter the market—similar to how a factory’s equipment and energy needs affect its production costs and supply. self-miningtechnical"Self-mining hash rate reached ~70. 2 EH/s. Co-mining hashrate"Self-mining is when a person or company uses its own equipment and resources to create new cryptocurrency coins rather than buying them or hiring someone else to mine. For investors, it matters because self-mining turns computing power into an ongoing source of revenue and digital assets, like owning a small factory instead of just selling its products; it affects costs, cash flow, asset holdings and exposure to energy and regulatory risks. annualized recurring revenuefinancial"ARR as of the last day of the respective month is calculated by multiplying the daily revenue"Annualized recurring revenue is the predictable income a business expects to earn over a year from ongoing customer subscriptions or contracts. It’s similar to estimating how much money you would make in a year if your current monthly income stayed the same. Investors use this figure to assess the stability and growth potential of a company's revenue stream. utilization ratetechnical"Utilization Rate 8 | 90% | 92%"Utilization rate measures the percentage of a company's available capacity that is actually being used over a given period — for example, how full a factory, hospital unit, or loan facility is compared with its maximum. It matters to investors because it signals efficiency and future revenue potential: higher utilization often means better use of fixed costs and stronger demand, while very low or extremely high rates can indicate underuse, lost sales, or strained resources. Think of it like the share of seats filled in a restaurant; it helps show whether the business is making the most of what it has. AI-generated analysis. Not financial advice. See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google06/18/2026 - 07:00 AMMonthly HighlightsBitcoin:Production increased 370% Y/Y to 921 BitcoinSEALMINERs:Recent launch of SEALMINER DL1 Hydro, designed for Scrypt algorithm mining with Bitdeer’s proprietary ASIC technology with hydro-cooling thermal management systemColocation:Executing on colocation lease agreements is THE top priority for management, with Tydal, Norway site in advanced stages of negotiationsAI Cloud:Deployment and production launch of 2 units of NVIDIA GB300 NVL72 clusters, further expanding Bitdeer AI Cloud’s advanced GPU infrastructureKey Metrics SummaryGlobal Energy CapacitySelf-Mining Hash Rate1Co-Mining Hash Rate2Self-Mining RigsBTC MinedAI Cloud ARRColocation AI Data Center3. 0 GW70. 2 (EH/s)10. 0 (EH/s)231K921~$69MTydal, Norway in advanced stages of negotiationsSINGAPORE, 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 $69 million at 90% GPU utilization, with GB300 NVL72 cluster deployment and Nemotron 3 availability reinforcing our enterprise-grade capabilities,” said Michael G. Potter, Chief Financial Officer of Bitdeer. “Tydal, Norway is in advanced stages of negotiations, representing the most visible proof point of our strategy to convert owned power into long-duration contracted revenue across our 3. 0 GW global portfolio. ” Mr. Potter continued, “Bitcoin production of 921 BTC, up 370% year-over-year, and self-mining hashrate of 70. 2 EH/s underscore the complementary strength of our vertically integrated mining platform as we accelerate the AI transition across our sites. ”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 3rdparty datacentersRecent launch of SEALMINER DL1 Hydro, designed for Scrypt algorithm mining with Bitdeer’s proprietary ASIC technology with hydro-cooling thermal management systemKey Crypto Metrics:MetricMay 2026April 2026May 2025Hash Rate Metrics:Self-Mining (Operated in self-owned datacenters)70. 265. 513. 6Other Proprietary Hash Rate44. 75. 30. 1Hosting58. 28. 213. 7Total Hash Rate under Mgmt. 6(EH/s)83. 179. 027. 4Co-Mining (Operated in 3rdparty datacenters)10. 08. 4-Mining Rig Metrics:Self-Mining231,000218,000103,000Hosted46,00046,00086,000Total Mining Rigs under Mgmt. 277,000264,000189,000Co-Mining39,00033,000-BTC Mined3921783196BTC Held7171731,351Bitdeer 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:MetricMay 2026April 2026GPU Amount Deployed4,2484,184GPU TypesH100, H200, B200, GB200, GB300H100, H200, B200, GB200Utilization Rate890%92%GPUs Under External Subscription3,3053,323ARR9~$69M~$69MGB300 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) CapacityEnergization Timing10Planned UsageConstruction UpdateOnline Electrical Capacity:1)Rockdale, TX563OnlineCrypto to Colocation / AI CloudIn active evaluation of AI transition2)Knoxville, TN – phase 137Q4 ‘26Crypto to AI CloudPhase 1 AI data center conversion design work initiated, targeting to complete by Q4 ’26. 3)Knoxville, TN – phase 249Q1 ‘274)Wenatchee, WA13Q4 ‘26Crypto to AI CloudAI 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, Norway84OnlineCrypto and in early assessment of converting to AI Cloud6)Tydal, Norway – phase 150Q4 ‘26Crypto to ColocationPlanning 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 2175Q4 ‘268)Gedu, Bhutan100OnlineCrypto9)Jigmeling, Bhutan500OnlineCrypto10)Oromia Region, Ethiopia50OnlineCryptoConstruction of the 50 MW site has been completed and energized, with ongoing energization in phases driven by SEALMINER deliveries. 11)Massillon, OH174OnlineCrypto12)Cyberjaya, Malaysia112OnlineAI CloudOnline Electrical Subtotal:1,797Pipeline Electrical Capacity:1)Massilon, OH21 / 26Q3 ’26CryptoDue 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, OH570To be updatedColocation / Crypto570 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, OH300Q4 ‘28Colocation / AI Cloud300 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, TX1792026Colocation / AI CloudIn Planning5)Fox Creek, Alberta, Canada101Q2 ‘27Crypto101 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, Malaysia119. 5Q4 ‘26AI CloudIn ProgressPipeline Electrical Subtotal:1,206. 5Total Global Electrical Capacity:3,003. 5Upcoming Conferences and EventsJune 18, 2026:Roth London ConferenceJune 23, 2026:Northland Capital Markets Growth Conference - VirtualFootnotes1Self-Mining (Operated in self-owned datacenters)refers to cryptocurrency mining for Bitdeer’s own account, whereby its mining rigs are operated in self-owned datacenters2Co-mining (Operated in 3rdparty datacenters)refers to cryptocurrency mining for Bitdeer’s own account, whereby its mining rigs are operated in third-party datacenters3Includes BTC from self-mining operations and BTC from co-mining operations. 4Other Proprietary Hash Rateincludes 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. 5Hostingencompasses a one-stop mining machine hosting solution including deployment, maintenance, and management services for efficient cryptocurrency mining. 6Total hashrateunder managementas of May 30, 2026, across Bitdeer’s primary business lines: Self-mining, Cloud Hash Rate, and Hosting. 7Bitcoins helddoes not include Bitcoins from customer deposits but does include Bitcoins that are pledged as collateral by us. 8Utilization Rateas 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. 9ARRas 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. 10Indicative timing for completion of power. All timing references are to calendar quarters and years. 11Capacity under lease arrangement. About Bitdeer Technologies GroupBitdeer 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, visithttps://ir. bitdeer. com/or follow Bitdeer on X@Bitdeerand 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 StatementsStatements 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 RelationsTesh Dahya, Head of Investor Relationstesh. dahya@bitdeer. comMediaElev8 New MediaJessica Starman, MBAbitdeer@elev8newmedia. comFAQHow many Bitcoin did Bitdeer (NASDAQ:BTDR) mine in May 2026 and how does it compare year-over-year?Bitdeer mined 921 Bitcoin in May 2026, a 370% increase year-over-year. According to Bitdeer, BTC mined rose from 196 in May 2025 to 921 in May 2026, supported by higher self-mining hash rate and more rigs under management. What was Bitdeer (BTDR) self-mining hash rate and total hash rate under management in May 2026?Bitdeer reported self-mining hash rate of 70. 2 EH/s and total hash rate under management of 83. 1 EH/s in May 2026. According to Bitdeer, both metrics increased significantly from May 2025 levels of 13. 6 EH/s and 27. 4 EH/s respectively. What is Bitdeer AI Cloud ARR and GPU utilization as of May 2026?Bitdeer AI Cloud annual recurring revenue was approximately $69 million with 90% GPU utilization in May 2026. According to Bitdeer, 4,248 GPUs were deployed, with 3,305 under external subscription, spanning H100, H200, B200, GB200, and GB300 models. What progress did Bitdeer (BTDR) report on its Tydal, Norway colocation AI data center in May 2026?Bitdeer is in advanced stages of negotiations with a potential colocation tenant for Tydal, Norway. According to Bitdeer, phase 1 (50 MW) targets Q4 2026 for crypto-to-colocation conversion, with planning, design and long-lead equipment orders continuing alongside an engaged local design and construction partner. How large is Bitdeer global electrical capacity for crypto and AI operations as of May 2026?Bitdeer reported total global electrical capacity of 3,003. 5 MW across online and pipeline sites. According to Bitdeer, 1,797 MW is online and 1,206. 5 MW is in the pipeline, supporting crypto mining, colocation, and AI Cloud data center developments in multiple regions. What new AI infrastructure did Bitdeer (BTDR) deploy in May 2026 for its AI Cloud business?Bitdeer completed deployment and production launch of two NVIDIA GB300 NVL72 clusters in May 2026. According to Bitdeer, this expands advanced GPU infrastructure for next-generation AI training and inference, and includes Day 0 deployment of NVIDIA Nemotron 3 Nano Omni in its AI Model Studio. Are there any project delays or legal factors affecting Bitdeer US capacity expansions in 2026?Bitdeer noted timing impacts at its Massillon and Clarington, Ohio projects. According to Bitdeer, Massillon faces delivery delays for key electrical components, while the 570 MW Clarington power availability and construction timing may be affected by ongoing legal proceedings from a neighboring company.