Bitdeer Jihana Wu built a mining center in Bhutan


Bitdeer completed construction of the Gedu bitcoin mining facility in Bhutan in July, according to a press release.

CEO of the firm Matt Linghui Kun said that 15,000 miners arrived at the site in a month, and at the moment about 11,000 devices are working stably.

In July, Bitdeer mined 220 BTC, which is 41% more than in the same period in 2022, but less than the June figure of 239 BTC.

“We continued to reduce power consumption at our data center in Texas to help stabilize the power grid due to the extreme heat wave in the state this summer, which helped us continue to receive electricity credits,” said Linghui Kun.

The hashrate controlled by the company has grown to 20.6 EH/s, and its own capacities have increased from 6.2 EH/s to 7.2 EH/s. The increase is mainly due to the deployment of equipment in Gedu.

In total, Bitdeer delivered 23,000 miners to the facility. Connecting them to the network is expected to add approximately 2.5 EH/s to the firm’s hashrate.

The fleet of equipment managed by the company reached 215,000 devices. Of the total, 85,000 units are involved in their own bitcoin mining and Cloud Hash Rate cloud mining service. The rest of the installations belong to the hosting clients.

In May, Bitdeer signed an agreement with the state-owned Druk Holding & Investments from Bhutan to develop cryptocurrency mining operations in the country with a budget of $500 million. It is expected that the capacity of the Gedu data center will be 600 MW with a hash rate of about 20 EH / s.

In July, the media reported that the mining company began raising funds for the Green Bitcoin Fund to invest in the cryptocurrency mining industry in Bhutan.

In early 2021, Bitmain co-founder Jihan Wu took ownership of Bitdeer as part of his payoff for leaving the mining giant. The package also includes $600 million, the pool, and data centers for cryptocurrency mining outside of China. The agreement drew a line under the long-term conflict between the entrepreneur and ex-partner Mikri Zhang.

Wu almost immediately sold to online lottery provider Limited (now BIT Mining Limited).

Recall that in April 2023, Bitdeer went public, entering the Nasdaq through a reverse merger with SPAC Blue Safari Group Acquisition Corp.

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