Bitcoin Miner Bitdeer Boosts BTC Production as Mining Industry Rebounds
Bitdeer minted 196 BTC in May, marking an 18% increase from April. The company raised its hashrate to 13.6 exahash per second due to new mining machinery. Other top miners, including CleanSpark, MARA, Riot Platforms, and HIVE, also reported increased BTC production in May. The Bitcoin mining sector faces challenges from rising competition and a declining cryptocurrency price, which has made it difficult for operations to cover costs. Following last year's halving, miner rewards decreased significantly. In April, Bitcoin's price fell below $75,000, influenced by global market fluctuations. However, Bitcoin reached a new high of $111,814 in May, nearing 3% of that peak. Mining operations require substantial equipment and energy, with low success odds. The U.S. holds the largest share of the global hashrate, and President Trump expressed support for domestic Bitcoin mining.
