U.S. Markets open in 3 hrs 37 mins

Bitdeer Group Takes the Lead in Renewable Energy Adoption Among Global Digital Asset Mining

·4 min read

While Global Bitcoin Mining Sustainable Electricity Mix Grown to approximately 57.7% in Q3 2021

Singapore, Singapore--(Newsfile Corp. - November 17, 2021) - Bitdeer Group, the world's leading digital assets mining service provider, reveals its latest achievement in the adoption of renewable energy that is ensured by one of its three major business verticals Mining Datacenter amid the constantly rising usage of sustainable and renewable technology in world's cryptocurrency mining.



To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/8247/103964_733113c554f9591c_001full.jpg

The study by the University of Cambridge in 2020 revealed that 76% of overall digital asset miners rely on different forms of renewable energy to sustain operations. As a matter of fact, Bitdeer Group has been a pioneer in this field and already started planning ahead of the trend when the Group was established in day one, with majority of its mining capability powered by clean energy around its global facilities so far.

How it started

Mining Datacenter, one of the key business verticals of Bitdeer Group, it's first facility started being constructed in 2013 and became fully operational in January 2016. It then established its presence in North America in July 2018, and then in Northern Europe in November 2019, mainly offering services including site selection, facility design, construction, maintenance, and general one-stop technical support. The team comprises former members of Bitmain's mining department and has broad technical expertise in power markets, operations, and electrical infrastructure.

How the forward-looking decision and planning helped the Group grow into industry leader

Bitdeer Group has been constantly deploying a distributed and diversified portfolio of its Mining Datacenter over the past years, largely strengthening its resistance to risks that are associated with specific geographical locations.

The proposal and initiative of carbon neutrality at the global scale has come onto Bitdeer Group's radar at a very early stage, when the Group swiftly started the deployment of a more balanced mix of power source in its global mining facilities.

Mining Datacenter's operation is now largely relying on a few major types of renewable sources including hydroelectric, wind, solar and nuclear energy. This status is achieved through Group's proprietary innovations. One of them is Mining Datacenter's modular structure, an energy-efficient construction that houses racks of equipment tailored for crypto mining. Others include the load-bearing layout, the "W-shape" water-cooling system, as well as the cutting-edge airflow and ventilation designs, collaboratively increasing power efficiency and stability while electricity consumption is significantly reduced. Bitdeer Group prefers to choose cleaner energy sources for mining in order to save resources and also to save costs for their users by offering cheaper electricity rates. The proportion of clean energy usage at Bitdeer Group's mining facilities keeps growing at a fast pace, responsible for an approximately 5% of the entire Bitcoin blockchain's hashrate so far. It is expected to build a global capacity up to 3,000 megawatts of aggregate grid connections by 2023.

A recent survey from Bitcoin Mining Council (BMC) shows that the sustainable electricity mix to power Bitcoin mining in Q3 2021 has grown to approximately 57.7%. This percentage is at the relatively lower range among the industry, while an adoption rate at 70%-75% of renewable energy is regarded as the higher range.

Earlier this year, Square published a whitepaper pointing out that "Bitcoin mining presents an opportunity to accelerate the global energy transition to renewables by serving as a complementary technology for clean energy production and storage". Bitdeer Group advocates this argument by practicing what it stands for. The past efforts and investments have yielded the high proportion of renewable sources used to power Bitdeer Group's mining facilities, of which the facilities in the United States and Norway are at the forefront and pushing it to the next level. One Mining Datacenter facility in the US already realized 100% use of hydroelectric energy, two in Norway realised 95% use of hydroelectric energy.

As a high-tech company and leading player of the industry, Bitdeer Group is committed to driving the shift of energy use from traditional sources such as coal and fossil oil burning, to a cleaner and greener future for the crypto world as a whole.

About Bitdeer Group

Bitdeer Group is the world's leading digital asset mining service provider. It was founded by Jihan Wu, the co-founder of Bitmain and Matrixport, along with Sequoia Capital, IDG, and other well-known investment institutions in the blockchain field. Headquartered in Singapore, Bitdeer Group has branches in the United States, Europe, and other countries and regions. The group has three business lines - Bitdeer, Mining Datacenter, and Minerplus. Together, they demonstrate Bitdeer Group's commitment to facilitating fully compliant digital asset mining services.

*Information provided in this article is for general information and reference only and does not constitute nor is intended to be construed as any advertisement, professional advice, offer, solicitation, or recommendation to deal in any product. No guarantee, representation, warranty or undertaking, express or implied, is made as to the fairness, accuracy, timeliness, completeness or correctness of any information, or the future returns, performance or outcome of any product. Bitdeer expressly excludes any and all liability (to the extent permitted by applicable law) in respect of the information provided in this article, and in no event shall Bitdeer be liable to any person for any losses incurred or damages suffered as a result of any reliance on any information in this article.

Contacts

For more information, please visit
Website: https://www.Bitdeer.com
Facebook: https://www.facebook.com/BitDeerplatform
Twitter: https://twitter.com/BitDeerOfficial
Marketing Contact: Marketing@Bitdeer.com
Bonnie Hu

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/103964