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BTDR

Bitdeer Technologies Group

BTDR

Bitdeer Technologies Group • NASDAQ
$13.41 ▲ 5.84% (+0.74)
Market Cap $2.80 B
52w High $27.80
52w Low $6.84
Dividend Yield 0%
P/E -2.68
Volume 4.78M
Outstanding Shares 208.60M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $169.708M ▲ $272.463M ▲ $-266.685M ▼ -157.143% ▼ $-1.28 ▼ $-261.052M ▼
Q2-2025 $155.582M ▲ $147.057M ▲ $-147.733M ▼ -94.955% ▼ $-0.76 ▼ $-25.786M ▲
Q1-2025 $70.128M ▲ $-419.465M ▼ $409.473M ▲ 583.894% ▲ $2.15 ▲ $-86.81M ▲
Q4-2024 $69.018M ▲ $525.966M ▲ $-531.917M ▼ -770.693% ▼ $-3.22 ▼ $-495.751M ▼
Q3-2024 $62.029M $56.354M $-50.097M -80.764% $-0.35 $-38.908M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $284.584M ▼ $2.437B ▲ $1.863B ▲ $573.811M ▼
Q2-2025 $473.672M ▲ $2.041B ▲ $1.334B ▲ $706.751M ▼
Q1-2025 $382.214M ▼ $1.599B ▲ $803.976M ▼ $794.649M ▲
Q4-2024 $558.347M ▲ $1.558B ▲ $1.281B ▲ $276.598M ▼
Q3-2024 $291.314M $1.046B $525.687M $520.746M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $0 $-520.282M ▼ $27.203M ▲ $388.197M ▼ $-103.54M ▼ $-580.03M ▼
Q2-2025 $0 $-334.871M ▼ $-12.623M ▲ $431.49M ▲ $84.15M ▲ $-446.362M ▼
Q1-2025 $0 ▲ $-283.988M ▲ $-73.603M ▼ $94.862M ▼ $-260.628M ▼ $-351.583M ▲
Q4-2024 $-531.917M ▼ $-325.058M ▼ $-9.96M ▼ $522.775M ▲ $184.956M ▲ $-373.441M ▼
Q3-2024 $0 $-90.72M $10.179M $168.067M $87.432M $-120.869M

Five-Year Company Overview

Income Statement

Income Statement Revenue is still relatively small and has not shown a clear, consistent growth path over the past few years. Gross profits are generally positive, which means the core services can create value after direct costs, but overhead and growth spending push the company into operating losses most years. The one clearly profitable year now looks like an exception rather than the norm. Recent results show a noticeably larger loss, suggesting heavier investment, higher costs, or tougher pricing, all of which weigh on earnings. Overall, the business is still in a scale‑up and build‑out phase rather than a steady profit‑generating phase.

Balance Sheet

Balance Sheet The company’s total assets have grown meaningfully, and cash on hand has improved compared with earlier years, giving it more flexibility to fund operations and investments. Debt has also increased, but it remains moderate relative to the total asset base, so leverage does not look extreme at this point. Shareholder equity stays positive, which means losses have not yet overwhelmed the company’s capital base. However, continued losses could gradually erode that cushion. In short, the balance sheet looks reasonably solid for a growth‑oriented, capital‑intensive business, but not immune to prolonged underperformance.

Cash Flow

Cash Flow The business has consistently burned cash from operations, and that outflow has recently grown larger, which means the core activities are not yet funding themselves. On top of that, the company spends heavily on capital projects, such as data centers and hardware, leading to sizeable negative free cash flow year after year. This pattern is typical for an infrastructure‑heavy, expansion‑stage company, but it also means reliance on outside funding, whether through debt, equity, or partnerships. The long‑term picture hinges on turning today’s investment in mining and AI capacity into stable, positive cash generation in the future.

Competitive Edge

Competitive Edge Bitdeer’s main edge comes from being vertically integrated: it designs its own mining chips, builds its own rigs, and operates its own data centers. This structure can lower costs per unit of computing power and reduce dependence on third‑party suppliers, an important advantage in a cyclical and equipment‑driven industry. The company also spreads its exposure across several lines—self‑mining, hosting for others, cloud hash rate products, hardware sales, and now AI and high‑performance computing services. This diversification can soften the blow from Bitcoin price swings but also pits Bitdeer against strong competitors in both crypto and AI infrastructure. Overall, its cost focus and operational know‑how provide a real competitive footing, but the environment remains intense, volatile, and highly sensitive to technology cycles and regulation.

Innovation and R&D

Innovation and R&D Innovation is at the core of Bitdeer’s strategy. The company is rolling out its own SEAL chip family and SEALMINER rigs, with a clear roadmap aimed at steadily improving energy efficiency and performance—key levers for winning in Bitcoin mining. It also invests in advanced cooling and power management to run dense, power‑hungry data centers more efficiently. Beyond mining, Bitdeer is building an AI cloud platform powered by top‑tier GPUs and wrapped in higher‑level software tools, including AI training and inference services. These initiatives show aggressive R&D and product development, but they also carry meaningful execution risk: the company must hit its technical milestones and convince both miners and AI clients to adopt its platforms at scale.

Summary

Bitdeer is an infrastructure‑heavy, innovation‑driven player trying to combine low‑cost Bitcoin mining with a push into AI computing. Financially, it remains loss‑making and cash‑burning, with only modest revenue growth so far and a notable step‑up in recent losses, reflecting the cost and risk of its expansion. The balance sheet still offers some protection, with growing assets, improved cash, and manageable debt, but ongoing negative cash flow makes future funding needs an important watchpoint. Strategically, vertical integration, proprietary chips, and diversified services in mining and AI give the company a differentiated position, yet it operates in highly competitive and volatile markets. The long‑term story depends on whether Bitdeer can successfully scale its technology roadmap and AI/data center offerings fast enough to turn today’s heavy investment into durable, profitable cash flows.

NEWS

November 20, 2025 · 10:00 AM UTC

INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Bitdeer Technologies Group - BTDR

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November 17, 2025 · 4:38 PM UTC

BTDR Investor Notice: Levi & Korsinsky Investigates Bitdeer Technologies Group for Securities Law Violations

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November 17, 2025 · 10:52 AM UTC

INVESTOR ALERT: Investigation of Bitdeer Technologies Group (BTDR) Announced by Holzer & Holzer, LLC

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November 13, 2025 · 8:30 AM UTC

Bitdeer Announces Pricing of Registered Direct Offering of 10,661,140 Class A Ordinary Shares

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November 12, 2025 · 4:01 PM UTC

Bitdeer Announces Proposed Private Placement of US$400.0 Million of Convertible Senior Notes

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