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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 | Dec 2025 | Dec 2024 | Dec 2023 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 620.25M | 349.78M | 368.55M | 333.34M | 394.66M |
| Gross Profit | 60.99M | 66.40M | 77.81M | 83.25M | 241.41M |
| EBITDA | 283.80M | -502.58M | 27.40M | 6.86M | 196.39M |
| Net Income | 65.60M | -599.15M | -56.66M | -60.37M | 82.64M |
Balance Sheet | |||||
| Total Assets | 2.80B | 1.56B | 639.39M | 651.41M | 646.97M |
| Cash, Cash Equivalents and Short-Term Investments | 176.69M | 518.79M | 161.10M | 231.36M | 372.09M |
| Total Debt | 1.19B | 286.26M | 92.83M | 100.23M | 92.43M |
| Total Liabilities | 1.94B | 1.28B | 306.82M | 333.07M | 358.89M |
| Stockholders Equity | 867.85M | 276.60M | 332.57M | 318.34M | 288.08M |
Cash Flow | |||||
| Free Cash Flow | -2.01B | -749.29M | -398.13M | -331.24M | -141.96M |
| Operating Cash Flow | -1.74B | -622.07M | -271.79M | -268.04M | -52.47M |
| Investing Cash Flow | 38.86M | 112.70M | 199.85M | 133.79M | 394.57M |
| Financing Cash Flow | 1.37B | 844.27M | -13.49M | -3.88M | -14.43M |
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 |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
54 Neutral | $2.37B | -9.17 | -15.34% | ― | 102.21% | ― | |
53 Neutral | $1.98B | -29.37 | -171.54% | ― | 28.97% | -4.18% | |
51 Neutral | $315.97M | -4.65 | -25.48% | ― | -24.30% | -181.62% | |
46 Neutral | $2.23B | 18.64 | -98.10% | ― | ― | ― | |
46 Neutral | $1.80B | -7.99 | -102.48% | ― | 9.47% | 16.97% |
Bitdeer Technologies Corporate Events
On February 19, 2026, Bitdeer Technologies Group announced a proposed private placement of US$300 million in convertible senior notes due 2032 to qualified institutional buyers under Rule 144A, with an option for initial purchasers to buy an additional US$45 million of notes. The notes, which will be senior unsecured obligations convertible into cash, Class A ordinary shares or a mix of both, are part of a broader financing plan that also includes a registered direct equity offering and related balance sheet transactions.
Bitdeer plans to use part of the proceeds from the notes and the registered direct share sale to fund capped call transactions aimed at limiting dilution from potential note conversions and to repurchase a portion of its 5.25% convertible senior notes due 2029 in privately negotiated deals. Remaining proceeds are earmarked for datacenter expansion, high-performance computing and AI cloud growth, ASIC mining rig development and general corporate purposes, with the linked offerings and note repurchases expected to influence trading dynamics in Bitdeer’s Class A shares and outstanding notes as hedge positions are established and unwound.
The most recent analyst rating on (BTDR) stock is a Buy with a $20.00 price target. To see the full list of analyst forecasts on Bitdeer Technologies stock, see the BTDR Stock Forecast page.
On February 12, 2026, Bitdeer Technologies Group reported unaudited financial results for the fourth quarter and full year ended December 31, 2025, highlighting a sharp turnaround in profitability and rapid scale-up of its infrastructure. Q4 2025 revenue surged to $224.8 million from $69.0 million a year earlier, with gross profit more than doubling to $10.6 million and net profit swinging to $70.5 million from a $531.9 million loss, while adjusted EBITDA improved to a positive $31.2 million and cash, crypto and receivables totaled over $368 million at year-end.
Operationally, Bitdeer expanded total hash rate under management to 71.0 EH/s from 21.6 EH/s in Q4 2024 and nearly doubled self-owned mining rigs to 211,000, enabling self-mined Bitcoin to rise to 1,673 coins in the quarter and boosting its Bitcoin holdings to 2,017. Management framed Q4 2025 as a strategic inflection point, emphasizing a dual-track shift toward high-performance compute and AI colocation on top of its core Bitcoin mining, backed by 1,658 MW of online electrical capacity and a pipeline of additional crypto and AI/HPC data center projects in North America, Europe, Africa and Asia, which could strengthen Bitdeer’s positioning in both the digital asset and AI infrastructure markets.
The most recent analyst rating on (BTDR) stock is a Buy with a $22.00 price target. To see the full list of analyst forecasts on Bitdeer Technologies stock, see the BTDR Stock Forecast page.
On February 10, 2026, Bitdeer reported a sharp expansion in its January 2026 operations, lifting self-mining hashrate to 63.2 EH/s and increasing Bitcoin output 430% year on year to 668 coins as it deploys more proprietary SEALMINER rigs while phasing out older third-party machines. The company is also progressing U.S. manufacturing, advancing SEALMINER R&D with a promising new Litecoin/DOGE ASIC, and ramping GPU cloud capacity, including the January 13 deployment of NVIDIA GB200 NVL72 infrastructure in Malaysia, underscoring a strategic push from pure crypto mining into AI and HPC services backed by a 3,002 MW global power footprint and active hyperscaler discussions.
Bitdeer’s SEALMINER A2 and A3 lines saw higher cumulative deployments and external sales in January, while development of SEALMINER DL1 and 04-series chips targets higher mining efficiency and near-term mass production. With growing GPU fleets, AI-focused data center conversions in the U.S. and Norway, and significant pipeline capacity in North America, Africa, and Canada, the update signals an effort to diversify revenue, deepen vertical integration, and position the company as a key infrastructure provider for both digital assets and enterprise AI workloads.
The most recent analyst rating on (BTDR) stock is a Buy with a $27.00 price target. To see the full list of analyst forecasts on Bitdeer Technologies stock, see the BTDR Stock Forecast page.
On February 2, 2026, Bitdeer Technologies Group disclosed that its wholly owned subsidiary Erie Creek LLC, along with sister subsidiaries Whitetail Creek LLC and Bitdeer, Inc., had been named as defendants in a lawsuit filed by American Heavy Plate Solutions, LLC in the Court of Common Pleas of Monroe County, Ohio. The complaint, which also names the Monroe County Port Authority as a defendant, seeks declaratory and injunctive relief over certain leasehold rights at an industrial property in Monroe County where the Port Authority is the landlord. Bitdeer said it plans to vigorously defend against the claims, signaling a potentially protracted legal dispute that could affect its use of the Ohio industrial site but did not indicate any immediate operational or financial impact.
The most recent analyst rating on (BTDR) stock is a Sell with a $13.50 price target. To see the full list of analyst forecasts on Bitdeer Technologies stock, see the BTDR Stock Forecast page.
On January 13, 2026, Bitdeer Technologies reported a sharp expansion in its December 2025 production, with self-mining hashrate rising to 55.2 EH/s and Bitcoin output jumping 339% year-on-year to 636 coins, driven by continued deployment of its proprietary SEALMINER rigs and the phased retirement of older third-party machines. The company also advanced its vertical-integration strategy and AI pivot, selling about 1.4 EH/s of SEALMINER A2 units to external customers, progressing SEAL04 chip development toward targeted mass production in early 2026, and maintaining preparations for a U.S. manufacturing facility. In its AI cloud business, Bitdeer ended 2025 with 1,152 high-end GPUs deployed at a 61% utilization rate and roughly $10 million in annual recurring revenue, deployed and tested eight GB200 systems in Malaysia ahead of a planned January 2026 cloud launch, and enhanced its platform with enterprise-grade IAM and SSO features, while continuing to evaluate U.S. data center leases and additional HPC colocation deals across a 1,658 MW global infrastructure base and a sizeable expansion pipeline.
The most recent analyst rating on (BTDR) stock is a Buy with a $34.00 price target. To see the full list of analyst forecasts on Bitdeer Technologies stock, see the BTDR Stock Forecast page.
In November 2025, Bitdeer Technologies Group reported a significant increase in its self-mining hashrate to 45.7 EH/s, driven by the deployment of SEALMINERs, resulting in a 251% year-over-year increase in Bitcoin production to 526 Bitcoins. The company is also expanding its AI cloud services, with a notable rise in annual recurring revenue to $10 million and plans for further infrastructure development, including new data centers in Malaysia and the U.S., positioning Bitdeer for continued growth in the high-performance computing market.
The most recent analyst rating on (BTDR) stock is a Buy with a $25.00 price target. To see the full list of analyst forecasts on Bitdeer Technologies stock, see the BTDR Stock Forecast page.