Bitdeer Technologies Group

Bitdeer Technologies Group operates as a technology company for blockchain and high-performance computing (HPC) in Singapore, the United States, Bhutan, Norway, Finland, Ethiopia, Canada, and internationally. 

1. Bitdeer delivered a strong first quarter in 2026 by introducing the SEALMINER A4, its most energy-efficient mining rig yet, strengthening its vertically integrated hardware platform while enhancing the competitiveness of its mining operations. The company also advanced execution across multiple strategic initiatives, reflecting its ability to translate long-term investments into tangible operational progress.

1. The company began developing the Tydal facility in Norway, which is expected to become the country’s largest operational AI data center upon completion, while continuing to scale its AI Cloud business. Annualized run-rate revenue from AI Cloud recently exceeded $69 million, highlighting accelerating demand and reinforcing Bitdeer’s expanding presence in AI infrastructure services.

• Bitdeer reported total revenue of US$188.9 million during the quarter, representing a substantial increase from US$70.1 million in the comparable prior-year period. The strong top-line growth reflected expanding business activity and higher contributions from its diversified operations despite a challenging market environment overall.

• Cost of revenue increased significantly to US$228.0 million from US$74.1 million a year earlier, outpacing revenue growth and placing considerable pressure on margins. Rising operating costs, infrastructure investments, and production-related expenses contributed to the sharp increase in overall cost performance during the quarter.

• As a result of higher costs, Bitdeer recorded a gross loss of US$39.0 million compared with a gross loss of US$4.0 million in the prior-year period. The wider gross loss highlighted the impact of elevated expenses on the company's overall operating profitability and financial performance.

• Bitdeer reported a net loss of US$159.5 million, reversing from a net profit of US$105.3 million in the same period last year. The decline reflected the combined effects of higher costs, increased operating expenses, and continued investments supporting the company's long-term strategic growth initiatives.

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