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Bitdeer reports Q2 2026 fiscal results, highlighting beardown gross maturation portion outgo of gross outpaced full sales, contempt a important sequential slowdown successful disbursal growth.
Key Takeaways
- Bitdeer gross reached $228.8M successful Q2 2026, up 47% year-over-year contempt ongoing nett losses.
- Rising vigor costs for Bitcoin miners pressed Bitdeer to a $237.3M disbursal baseline successful Q2 2026.
- Bitdeer is leveraging a $4.7B lease with Volta successful Norway to pivot capableness into AI unreality infrastructure.
Top-Line Growth
Bitdeer Technologies Group released unaudited fiscal results for the 2nd 4th (Q2) of 2026, Aug. 10, demonstrating beardown top-line gross maturation accompanied by persistent outgo pressures. While the company’s outgo of gross grew faster than full gross year-over-year, the gait of outgo maturation slowed importantly compared with the archetypal quarter, helping constrictive Bitdeer’s gross loss.
Total gross for the 3 months ended June 30 totalled $228.8 million, up from $155.6 cardinal successful the 2nd 4th of 2025 and up 21.1% from $188.9 cardinal successful Q1 of 2026. The outgo of gross climbed to $237.3 cardinal from $143.6 cardinal successful the 2nd 4th of 2025, but accrued lone 4.1% sequentially from $228 cardinal successful the archetypal 4th of 2026.
Bitdeer’s gross nonaccomplishment narrowed to $8.5 million, compared with a gross nett of $12 cardinal successful the 2nd 4th of 2025. Still, the second-quarter gross nonaccomplishment was a marked betterment from the $39 cardinal gross nonaccomplishment reported successful the archetypal 4th of 2026. The nett nonaccomplishment reached $92.3 million, down from $159.5 cardinal successful the archetypal 4th of 2026.
The superior communicative of Bitdeer’s Q2 fiscal show centers connected outgo expansion. Year-over-year, outgo of gross grew 65.3%, outpacing the 47% summation successful full revenue.
This discrepancy was driven principally by higher energy expenses and rising depreciation costs arsenic the institution rapidly deployed caller mining rigs and brought further information halfway capableness online. Electricity expenses for self-mining roseate to $84.7 cardinal successful the 2nd 4th of 2026, portion depreciation and share-based compensation expenses reached $79.8 million. Higher headcount, artificial quality (AI) unreality work fees, and co-mining hosting fees besides contributed to the rising disbursal baseline.
The maturation successful full gross was spearheaded by Bitdeer’s self-mining business, which generated $168.4 cardinal successful the 2nd 4th of 2026 — up from $59.3 cardinal successful the 2nd 4th of 2025 — driven by a 389.4% surge successful mean self-mining hash complaint to 69.5 exahashes per second. AI unreality revenue besides expanded rapidly to $14 million, up from $1.3 cardinal successful the prior-year period.
Bitdeer Chief Financial Officer Michael G. Potter noted that the 4th reflected dependable execution crossed some AI infrastructure and Bitcoin mining fleets, highlighting the caller 16-year, $4.7 cardinal AI and high-performance computing information halfway lease with Volta astatine its Tydal, Norway, installation arsenic a cardinal milestone for converting powerfulness capableness into semipermanent contracted revenue.
Before securing the Norway mega-lease, Bitdeer announced successful July that construction had begun connected a $36 cardinal electronics manufacturing facility successful Sparks, Nevada — its archetypal U.S. assembly tract for SEALMINER rigs. The installation volition complement the company’s existing U.S. information centers and its San Jose, California, innovation hub.
As of June 30, 2026, Bitdeer held $496.3 cardinal successful cash, currency equivalents and restricted cash, providing liquidity arsenic it continues expanding its SEALMINER deployment and AI information halfway pipeline.
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