TL;DR
- Bitdeer mined 2,694 BTC in Q2 2026, practically 5 instances the 565 BTC produced a yr earlier, whereas ending June with solely 150 BTC.
- Income rose 47% to $228.8 million and common self-mining hashrate climbed 389% to 69.5 exahashes per second, however web loss widened to $92.3 million.
- The corporate can be increasing into AI infrastructure, together with a 16-year, $4.7 billion lease for 121 megawatts of computing capability in Norway.
Bitdeer Applied sciences practically quintupled its Bitcoin manufacturing within the second quarter of 2026, mining 2,694 BTC in contrast with 565 BTC a yr earlier. The surge arrived whilst the corporate ended June holding solely 150 BTC on its stability sheet, down 90% from 1,502 BTC in the identical interval final yr. The distinction is difficult to overlook: Bitdeer produced way more bitcoin whereas retaining dramatically much less of it. That consequence displays a treasury reset earlier within the yr, when the miner liquidated its complete 943 BTC reserve in February, citing liquidity concerns fairly than abandoning Bitcoin mining.
Mining progress accelerates as Bitdeer expands past Bitcoin
The operational growth confirmed up clearly in Bitdeer’s self-mining metrics. Common self-mining hashrate jumped 389% to 69.5 exahashes per second, serving to self-mining income attain $168.4 million. Whole quarterly income climbed 47% yr over yr to $228.8 million, barely above Wall Road’s $225 million consensus estimate. Bitdeer’s mining engine turned considerably extra productive, however stronger output didn’t translate into bottom-line profitability. The corporate’s web loss widened to $92.3 million from $62.9 million a yr earlier, creating one other sharp disconnect between scale and earnings regardless of the sharp growth in working exercise.
Bitdeer’s technique additionally extends past Bitcoin mining. The corporate is among the many miners increasing into synthetic intelligence information facilities and high-performance computing infrastructure. In August, it signed a 16-year lease valued at $4.7 billion for 121 megawatts of AI computing capability in Norway. That settlement exhibits Bitdeer is constructing a second progress engine alongside its enlarged Bitcoin mining operation. The transfer locations conventional mining economics and AI infrastructure below the identical company umbrella, probably giving the corporate one other supply of demand as its computing footprint expands throughout completely different makes use of and enterprise traces globally.
Buyers initially responded positively to the replace, with Bitdeer shares rising 1.5% in premarket buying and selling on Monday after falling 15% over the earlier month. Nonetheless, the quarter leaves an advanced image. Manufacturing expanded dramatically, income exceeded expectations and hashrate accelerated, but losses widened and Bitcoin holdings remained far beneath year-earlier ranges. Bitdeer’s Q2 outcomes due to this fact inform a narrative of speedy operational progress paired with an deliberately leaner crypto treasury. Whether or not that mixture can enhance monetary efficiency stays unresolved, however the firm ended the quarter with higher mining capability, stronger income and simply 150 BTC.
