Bitdeer bitcoin output rises as AI cloud backlog reaches $2.9 billion
Bitdeer is expanding both its bitcoin mining and artificial intelligence infrastructure businesses, with September showing stronger crypto production and a sharp increase in contracted AI revenue. The Singapore-based company reports that the backlog surge is tied mainly to long-term customer commitments for data center capacity in Malaysia, while its currently deployed GPU fleet changes little.
Highlights
- Bitdeer mined 1,355 bitcoin in September, up 3.4% from August and 200% year-on-year, with self-mining hashrate reaching 82.3 EH/s.
- AI Cloud revenue backlog surged to $2.9 billion from $900 million in August, driven by offtake commitments for over 70% of the 21.7 MW A201 data center.
- Long-term agreements for the A201 and A102 facilities represent more than $1.7 billion and $800 million in expected revenue, respectively, over five years.
September production and contracted revenue growth
As reported by TheEnergyMag, Bitdeer says it mined 1,355 bitcoin in September, up 3.4% from 1,310 BTC in August and 200% from 452 BTC a year earlier. The increase comes as the company continues to scale its proprietary mining platform while adding long-term AI Cloud customer commitments.Its self-mining hashrate reaches 82.3 exahashes per second at the end of September, compared with 79.9 EH/s in August and 35 EH/s a year earlier. Co-mining hashrate, which covers Bitdeer-owned machines operated in third-party data centers, rises to 28.7 EH/s from 21.6 EH/s in August, bringing the two active mining categories to about 111 EH/s at month-end.
Bitdeer also reports 86.4 EH/s of total proprietary hashrate, a broader measure that includes parts of its mining fleet not currently deployed or operating. Despite the higher output, the company holds 47 BTC at September 30, down from 61 BTC a month earlier and 2,029 BTC a year earlier, while the monthly update does not reconcile sales, transfers or other changes in holdings.
The larger shift in September comes from AI Cloud contracting. Bitdeer says its AI Cloud revenue backlog climbs to about $2.9 billion from $900 million at the end of August, largely reflecting previously announced offtake commitments covering more than 70% of its roughly 21.7 MW A201 data center in Johor Bahru, Malaysia.
Those commitments represent more than $1.7 billion in expected revenue over five years. They follow an earlier agreement covering the full 9.5 MW A102 facility at Cyberjaya, which represents more than $800 million in expected revenue.
In our earlier coverage of the U.S. AI data center boom, we highlighted how soaring funding costs, construction delays, and power constraints are challenging developers’ ability to deliver projects on time. We also noted that investor confidence can weaken quickly when timelines slip or budgets overrun, raising doubts about how fast new computing capacity can realistically come online.
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