TL;DR
- Bitdeer mined 2,694 BTC in Q2 2026, nearly five times the 565 BTC produced a year earlier, while ending June with only 150 BTC.
- Revenue rose 47% to $228.8 million and average self-mining hashrate climbed 389% to 69.5 exahashes per second, but net loss widened to $92.3 million.
- The company is also expanding into AI infrastructure, including a 16-year, $4.7 billion lease for 121 megawatts of computing capacity in Norway.
Bitdeer Technologies nearly quintupled its Bitcoin production in the second quarter of 2026, mining 2,694 BTC compared with 565 BTC a year earlier. The surge arrived even as the company ended June holding only 150 BTC on its balance sheet, down 90% from 1,502 BTC in the same period last year. The contrast is hard to miss: Bitdeer produced far more bitcoin while retaining dramatically less of it. That outcome reflects a treasury reset earlier in the year, when the miner liquidated its entire 943 BTC reserve in February, citing liquidity considerations rather than abandoning Bitcoin mining.
Mining growth accelerates as Bitdeer expands beyond Bitcoin
The operational expansion showed up clearly in Bitdeer’s self-mining metrics. Average self-mining hashrate jumped 389% to 69.5 exahashes per second, helping self-mining revenue reach $168.4 million. Total quarterly revenue climbed 47% year over year to $228.8 million, slightly above Wall Street’s $225 million consensus estimate. Bitdeer’s mining engine became substantially more productive, but stronger output did not translate into bottom-line profitability. The company’s net loss widened to $92.3 million from $62.9 million a year earlier, creating another sharp disconnect between scale and earnings despite the sharp expansion in operating activity.
Bitdeer’s strategy also extends beyond Bitcoin mining. The company is among the miners expanding into artificial intelligence data centers and high-performance computing infrastructure. In August, it signed a 16-year lease valued at $4.7 billion for 121 megawatts of AI computing capacity in Norway. That agreement shows Bitdeer is building a second growth engine alongside its enlarged Bitcoin mining operation. The move places traditional mining economics and AI infrastructure under the same corporate umbrella, potentially giving the company another source of demand as its computing footprint expands across different uses and business lines globally.
Investors initially responded positively to the update, with Bitdeer shares rising 1.5% in premarket trading on Monday after falling 15% over the previous month. Still, the quarter leaves a complicated picture. Production expanded dramatically, revenue exceeded expectations and hashrate accelerated, yet losses widened and Bitcoin holdings remained far below year-earlier levels. Bitdeer’s Q2 results therefore tell a story of rapid operational growth paired with an intentionally leaner crypto treasury. Whether that combination can improve financial performance remains unresolved, but the company ended the quarter with greater mining capacity, stronger revenue and just 150 BTC.
