TLDR
- Bitdeer mined 2,694 BTC in Q2 2026, up nearly fivefold from 565 BTC in Q2 2025.
- Revenue rose 47% year-over-year to $228.8 million, edging past Wall Street’s $225 million estimate.
- Net loss widened to $92.3 million from $62.9 million a year earlier.
- The company closed Q2 holding just 150 BTC, down 90% from 1,502 BTC a year prior.
- BTDR stock dropped over 15% on Monday despite the strong operational numbers.
Bitdeer (BTDR) stock fell more than 15% on Monday after the company reported Q2 2026 earnings that showed strong revenue growth but a widening net loss.
Bitdeer Technologies Group, BTDR
The stock had already dropped 15% over the prior month before Monday’s move. It was briefly up 1.5% in premarket trading before reversing sharply once the market opened.
Revenue for the quarter came in at $228.8 million, up 47% from $155.6 million in Q2 2025. That came in just above the Wall Street consensus estimate of $225 million.
LATEST: ⛏️ Bitdeer mined 2,694 BTC in Q2, nearly five times last year's output, with its revenue also rising 47% to $228.8M. pic.twitter.com/jGf585abhX
— CoinMarketCap (@CoinMarketCap) August 10, 2026
Self-mining revenue made up the bulk of that, at $168.4 million. Average self-mining hashrate jumped 389% to 69.5 exahashes per second.
AI cloud revenue climbed tenfold to $14 million during the quarter, a category Bitdeer has been building out as part of its push into AI infrastructure.
The net loss for the quarter widened to $92.3 million, up 47% from a loss of $62.9 million in the same period last year. Electricity costs, depreciation, R&D, administration, and interest expenses all increased.
Mining Output Surges, But Bitcoin Holdings Drop
Bitdeer mined 2,694 Bitcoin during Q2, nearly five times the 565 BTC produced in Q2 2025.
Despite that output, the company ended the quarter holding just 150 BTC on its balance sheet. That is down 90% from the 1,502 BTC it held a year earlier.
Bitdeer sold off its entire 943 BTC treasury in February. The company cited liquidity reasons for the move. It also appeared to sell most of its newly mined Bitcoin during the quarter, a period when Bitcoin dipped below $60,000.
Norway Deal Highlights AI Push
CFO Michael Potter, who joined in May from Corsair Gaming, pointed to the company’s AI infrastructure buildout as a key focus.
“Our AI Cloud revenue continues to scale, alongside our mining business as our SEALMINER fleet comes online,” Potter said.
Earlier in August, Bitdeer signed a 16-year lease worth $4.7 billion for 121 megawatts of AI computing capacity at its Tydal campus in Norway.
Potter called it the company’s “first large-scale proof point” for its colocation strategy.
“Earlier this month, we converted a meaningful portion of our power portfolio into long term, contracted revenue with the Tydal, Norway agreement,” he said.
The company has been expanding into AI data centers and high-performance computing over recent quarters.
BTDR closed Monday down over 15%, with the stock now off roughly 30% over the past two months.
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