Bitcoin miner Bitdeer produced 921 BTC in May 2026 while ending the month with 171 BTC on its balance sheet. The figures mark a sharp rise in output from 196 BTC a year earlier but a steep drop in holdings from 1,351 BTC. The update also showed AI Cloud annual recurring revenue holding near 69 million dollars.
Bitdeer reported the May results in an operating update released this month. Production rose 370 percent year over year while month-end holdings fell sharply. The company noted that May figures include both self-mining and co-mining activity.
First-quarter results released earlier reinforced the pattern. Bitdeer mined 2,033 BTC in the quarter compared with 350 BTC a year earlier and held just 31 BTC at quarter-end. It also recorded 206.8 million dollars in proceeds from digital asset disposals.
The firm continues to expand its AI Cloud business. AI Cloud annual recurring revenue reached about 69 million dollars in May at 90 percent GPU utilization with 4,248 GPUs deployed. Two NVIDIA GB300 NVL72 clusters were launched during the period.
Bitdeer is converting its Tydal, Norway site into an 180 MW AI data center. Completion is targeted for as early as December 2026, with advanced negotiations under way for a colocation tenant.
