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Bitdeer Technologies
(NASDAQ:BTDR)
Bitdeer Technologies (BTDR) vs. SPDR S&P 500 ETF (SPY)
Bitdeer Technologies Business Overview & Revenue Model
Bitdeer Technologies Earnings Call Summary
Bitdeer Technologies Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 464.44M | 349.78M | 368.55M | 333.34M | 394.66M | 186.39M |
| Gross Profit | 55.52M | 66.40M | 77.81M | 83.25M | 241.41M | -23.18M |
| EBITDA | -869.40M | -502.58M | 27.40M | 6.86M | 196.39M | 49.07M |
| Net Income | -536.86M | -599.15M | -56.66M | -60.37M | 82.64M | -55.83M |
Balance Sheet | ||||||
| Total Assets | 2.44B | 1.56B | 639.39M | 651.41M | 646.97M | 853.30M |
| Cash, Cash Equivalents and Short-Term Investments | 284.58M | 518.79M | 161.10M | 231.36M | 372.09M | 50.86M |
| Total Debt | 915.95M | 286.26M | 92.83M | 100.23M | 92.43M | 47.58M |
| Total Liabilities | 1.86B | 1.28B | 306.82M | 333.07M | 358.89M | 707.40M |
| Stockholders Equity | 573.81M | 276.60M | 332.57M | 318.34M | 288.08M | 145.90M |
Cash Flow | ||||||
| Free Cash Flow | -1.75B | -749.29M | -398.13M | -331.24M | -141.96M | -253.06M |
| Operating Cash Flow | -1.46B | -622.07M | -271.79M | -268.04M | -52.47M | -109.18M |
| Investing Cash Flow | -68.98M | 112.70M | 199.85M | 133.79M | 394.57M | 62.74M |
| Financing Cash Flow | 1.44B | 844.27M | -13.49M | -3.88M | -14.43M | 30.78M |
Bitdeer Technologies Technical Analysis
Bitdeer Technologies Risk Analysis
Bitdeer Technologies Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $4.01B | 12.20 | 18.52% | ― | 102.21% | ― | |
62 Neutral | $329.21M | ― | -25.48% | ― | -24.30% | -181.62% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
48 Neutral | $2.39B | ― | -171.54% | ― | 28.97% | -4.18% | |
41 Neutral | $2.95B | ― | -80.55% | ― | 9.74% | 22.36% | |
38 Underperform | $2.94B | ― | -98.10% | ― | ― | ― |
Bitdeer Technologies Corporate Events
Bitdeer Technologies Group recently completed significant financial transactions, including a private placement of $400 million in convertible senior notes due 2031, which closed on November 17, 2025. Additionally, on November 19, 2025, the company executed a registered direct offering of over 10 million Class A ordinary shares at $13.94 per share. These actions were part of a strategic move to repurchase $200 million of existing convertible senior notes due 2029, indicating a focus on restructuring its financial obligations and optimizing its capital structure. Barclays Capital Inc. acted as the exclusive placement agent for the equity offering, highlighting Bitdeer’s efforts to strengthen its financial position and potentially improve its market standing.
On November 12, 2025, Bitdeer Technologies Group announced its intention to offer $400 million in Convertible Senior Notes due 2031 in a private placement, with an option for purchasers to acquire an additional $60 million. The proceeds will be used for datacenter expansion, ASIC mining rig development, and growth of its HPC and AI cloud business. Concurrently, Bitdeer plans a registered direct offering of Class A ordinary shares, with proceeds aimed at repurchasing a portion of its 5.25% convertible senior notes due 2029. These strategic financial maneuvers are expected to support Bitdeer’s operational expansion and enhance its market position in the Bitcoin mining and AI cloud industry.
Bitdeer Technologies Group reported significant financial growth in the third quarter of 2025, with revenue reaching $169.7 million, marking a 173.6% increase year-over-year. The company achieved a gross profit of $40.8 million and an adjusted EBITDA of $43.0 million, reflecting operational efficiency gains. Bitdeer is expanding its AI strategy to capitalize on the global shortage of AI infrastructure, aiming to generate substantial revenue through its AI cloud services. The company also surpassed its self-mining target with 41.2 EH/s and commenced mass production of its SEALMINER A3 series, although development of the SEAL04 chip is delayed.
In October 2025, Bitdeer Technologies Group reported a significant increase in its self-mining hashrate to 41.2 EH/s, surpassing its target of 40 EH/s. This was achieved through the continued deployment of SEALMINER rigs and the commencement of energization at new sites in Massillon, Ohio, and Oromia Region, Ethiopia. The company mined 511 Bitcoins, marking a 13% increase from the previous month. Bitdeer is also expanding its AI cloud services, achieving an annual recurring revenue of $8 million, and is actively working on infrastructure projects in the U.S. and Southeast Asia to enhance its market positioning.
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 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.
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.
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.