Bitdeer Technologies (BTDR) AI Stock Analysis

• Market Cap: $4.97B
• Dividend Yield: N/A
• Average Volume (3M): 8.27M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.50
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 183
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): -0.76
• Shares Outstanding: 169,482,990
• 10 Day Avg. Volume: 10,712,086
• 30 Day Avg. Volume: 8,267,369
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.48
• Enterprise Value/Revenue: 6.62
• Enterprise Value/Gross Profit: 135.30
• Enterprise Value/Ebitda: -3.74
• 1Y Price Target: $31.40
• Price Target Upside: 30.24% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 10

• Rating: 53 Neutral
• Price Target: $24.50 ▲(1.62% Upside)

Bitdeer Technologies' overall stock score is primarily impacted by its weak financial performance, characterized by consistent losses and negative cash flows. Despite this, the stock shows positive technical momentum, which provides some optimism. However, the poor valuation metrics, including a negative P/E ratio, highlight significant challenges in achieving profitability.

Positive Factors

AI Strategy Expansion

Bitdeer's expansion into AI data centers represents a strategic pivot that could diversify revenue streams and capitalize on growing AI demand, enhancing long-term market positioning.

Self-Mining Capacity Growth

Increasing self-mining capacity strengthens Bitdeer's competitive edge in cryptocurrency mining, potentially leading to higher revenue and market share.

Revenue Growth

Significant revenue growth indicates strong demand for Bitdeer's services and products, underpinning its business model and supporting future expansion efforts.

Negative Factors

Consistent Operating Losses

Ongoing operating losses highlight challenges in achieving profitability, which could strain financial resources and limit strategic investments.

Negative Cash Flows

Negative cash flows indicate difficulties in generating sufficient cash from operations, potentially impacting the company's ability to fund growth initiatives without external financing.

Rising Liabilities

Increasing liabilities could pose a risk to financial stability, potentially affecting Bitdeer's ability to manage debt and finance future growth sustainably.

Bitdeer Technologies Business Overview & Revenue Model

Company Description

Bitdeer Technologies (BTDR) is a leading technology company specializing in cryptocurrency mining solutions. The company operates in the blockchain and digital asset sectors, providing a range of services including mining hardware, cloud mining platforms, and hosting services. Bitdeer is focused on enhancing the efficiency and accessibility of cryptocurrency mining, catering to both individual miners and large-scale operations.

How the Company Makes Money

Bitdeer Technologies generates revenue through multiple channels. Primarily, the company earns money by selling cryptocurrency mining hardware, such as ASIC miners, to customers who wish to set up their own mining operations. Additionally, Bitdeer operates a cloud mining service, allowing users to rent mining power without the need for physical hardware, which provides a steady stream of income. The company also offers hosting services for mining equipment, charging fees for electricity and maintenance. Significant partnerships with hardware manufacturers and blockchain networks enhance its market position and contribute to its earnings by ensuring a reliable supply of high-demand mining equipment and services.

Bitdeer Technologies Financial Statement Overview

Summary

Bitdeer Technologies faces significant financial challenges with consistent operating losses, negative cash flows, and fluctuating revenues. The company's ability to achieve profitability and sustain operations without external financing remains a key concern. While the debt-to-equity ratio is moderate, the persistent negative financial metrics suggest a need for strategic improvements.

Income Statement

Bitdeer Technologies has experienced fluctuating revenue with a decline in the most recent year. The company has consistently reported negative EBIT and EBITDA margins, indicating challenges in generating operating profits. A significant decline in net profit margin further emphasizes profitability issues.

Balance Sheet

The debt-to-equity ratio is moderate, suggesting manageable leverage, but negative net income has impacted return on equity (ROE). The equity ratio indicates a reasonable portion of assets financed by equity, though overall financial stability remains a concern due to recurring losses.

Cash Flow

Operating cash flow remains negative, highlighting ongoing operational challenges. The free cash flow is consistently negative, indicating the company struggles to generate sufficient cash from its operations. Despite a positive financing cash flow, the sustainability of operations without external funding is questionable.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	356.76M	349.78M	368.55M	333.34M	394.66M	186.39M
Gross Profit	17.46M	66.40M	77.81M	83.25M	241.41M	-23.18M
EBITDA	-631.24M	-502.58M	27.40M	5.85M	196.50M	49.07M
Net Income	-320.27M	-599.15M	-56.66M	-60.37M	82.64M	-55.83M
Balance Sheet
Total Assets	2.04B	1.56B	639.39M	651.41M	646.97M	853.30M
Cash, Cash Equivalents and Short-Term Investments	473.67M	518.79M	144.73M	231.36M	372.09M	44.75M
Total Debt	625.72M	286.26M	92.83M	100.23M	92.43M	22.83M
Total Liabilities	1.33B	1.28B	306.82M	333.07M	358.89M	707.40M
Stockholders Equity	706.75M	276.60M	332.57M	318.34M	288.08M	145.90M
Cash Flow
Free Cash Flow	-1.29B	-749.29M	-400.09M	-617.23M	-202.00M	-253.06M
Operating Cash Flow	-1.03B	-622.07M	-273.74M	-268.04M	-52.47M	-109.18M
Investing Cash Flow	-86.01M	112.70M	199.85M	133.79M	394.57M	62.74M
Financing Cash Flow	1.22B	844.27M	-13.49M	-3.88M	-14.43M	30.78M

Bitdeer Technologies Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 24.11
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BTDR, the sentiment is Positive. The current price of 24.11 is above the 20-day moving average (MA) of 21.75, above the 50-day MA of 17.57, and above the 200-day MA of 14.08, indicating a bullish trend. The MACD of 1.83 indicates Positive momentum. The RSI at 60.26 is Neutral, neither overbought nor oversold. The STOCH value of 54.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BTDR.

Bitdeer Technologies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CLSK	―	$5.44B	23.01	17.09%	―	84.66%	―
Sector *	―	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
BTDR	―	$4.97B	―	-54.00%	―	―	―
ASAN	―	$3.44B	―	-80.55%	―	9.74%	22.36%
GRND	―	$2.89B	―	-76.08%	―	28.35%	24.57%
SMRT	―	$261.42M	―	-25.48%	―	-28.45%	-224.48%

Bitdeer Technologies Corporate Events

Bitdeer Technologies Expands Operations and Advances AI Strategy in September 2025

In September 2025, Bitdeer Technologies announced significant advancements in its operations and production. The company increased its self-mining hashrate to 35.0 EH/s and launched the SEALMINER A3 series, with mass production commencing for self-mining. Bitdeer also completed the energization of its sites in Tydal, Norway, and Jigmeling, Bhutan, and launched a new power pipeline in Niles, Ohio. The company is accelerating its HPC/AI strategy by expanding its role in the data center market, planning to convert several sites into AI data centers by the end of 2026. This expansion is expected to significantly enhance Bitdeer’s market positioning and potentially generate substantial revenue.

Bitdeer Technologies Reports Strong Financial Growth Amid Rising Liabilities

Bitdeer Technologies Group has released its unaudited condensed consolidated financial statements for the period ending June 30, 2025. The report highlights a significant increase in total assets and net assets compared to the previous year, indicating a robust financial position. The company’s current assets have grown substantially, driven by an increase in cryptocurrencies and inventories. However, the report also shows a rise in liabilities, particularly in derivative liabilities and borrowings, which stakeholders should monitor closely.

Bitdeer Technologies Reports Significant August 2025 Mining Growth

In August 2025, Bitdeer Technologies Group reported a 35% increase in its self-mining hashrate, reaching 30.0 EH/s, driven by the deployment of SEALMINERs. The company mined 375 Bitcoins, a 33% increase from July, and continues to expand its infrastructure and operations globally. Bitdeer is on track to achieve a self-mining target of 40 EH/s by the end of October 2025, positioning itself as a major player in the Bitcoin mining industry.

Bitdeer Technologies Announces Cleanup Redemption of Convertible Notes

On September 8, 2025, Bitdeer Technologies Group announced a cleanup redemption of its 8.50% Convertible Senior Notes due 2029, amounting to $7.7 million. The redemption is set for September 23, 2025, with holders having the option to convert their notes into Class A ordinary shares before the deadline. This move is expected to streamline the company’s financial operations and potentially enhance shareholder value by adjusting the conversion rate and settling conversions with shares and cash.

Bitdeer Technologies Reports Q2 2025 Financial Results and Strategic Developments

On August 18, 2025, Bitdeer Technologies Group announced its unaudited financial results for the second quarter of 2025, reporting a revenue of $155.6 million, marking a 56.8% increase year-over-year. Despite the revenue growth, the company experienced a net loss of $147.7 million. Bitdeer is on track to achieve a self-mining capacity of 40 EH/s by the end of October and has entered advanced negotiations for a development project in Clarington, Ohio. The company is also focusing on its SEALMINER A4 project, aiming for unprecedented chip efficiency, which is expected to enhance its competitive position in the industry.

Bitdeer Technologies Reports Significant July 2025 Mining and Infrastructure Advancements

In July 2025, Bitdeer Technologies Group reported a 35% increase in its self-mining hashrate, reaching 22.3 EH/s, due to the deployment of SEALMINERs. The company energized 159 MW in Bhutan and Norway and completed a hydro-cooling conversion in Rockdale, Texas. Bitdeer also announced advancements in its mining rig manufacturing, with SEALMINER A3 ready for mass production and SEALMINER A4 targeting improved chip efficiency. The company is progressing in its infrastructure projects, with significant energization milestones achieved and ongoing negotiations for its Clarington, Ohio site.