Bitdeer Technologies (BTDR) Continues to Focus on AI Infrastructure Platform

Bitdeer Technologies Group (NASDAQ:BTDR) is one of the 10 worst artificial intelligence stocks under $30 according to short sellers.

On June 18, Bitdeer Technologies Group (NASDAQ:BTDR) shared updates around its unaudited results for the month of May. The company remained focused on its AI infrastructure platform through persistent execution during the month. It reported a roughly $69 million annual run rate for AI Cloud, which represents GPU utilization of around 90%.

Image by Лечение Наркомании from Pixabay

The management highlighted that its enterprise-grade functions also strengthened during May amid the availability of Nemotron 3 and the rollout of the GB300 NVL72 cluster. The company’s CFO, Michael G. Potter, shared progress relating to Tydal, Norway, to reflect on the company’s ambitions toward long-term contractual revenue streams across its global portfolio. Potter stated:

“Tydal, Norway is in advanced stages of negotiations, representing the most visible proof point of our strategy to convert owned power into long-duration contracted revenue across our 3.0 GW global portfolio.”

Potter further highlighted that the company recorded 921 BTC of bitcoin production during the month, which translates into a 370% growth on a YoY basis. The company also reported 70.2 EH/s in self-mining hashrate, which reflects favorably on its resilient mining platform.

Bitdeer Technologies Group (NASDAQ:BTDR) offers bitcoin mining capabilities across the entire lifecycle, including self-mining and services for external customers. For self-mining, the company has been effectively utilizing SEALMINER rigs to expand its hashrate. Apart from that, the company also designs chips and operates data centers.

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