Bitdeer Technologies (BTDR) Company Report

Bitdeer Technologies Group completed an Equity Offering of 10,661,140 Class A ordinary shares at US$13.94 per share on November 19, 2025, generating estimated net proceeds of approximately US$148.4 million.
Concurrently, the company closed a private placement of US$400.0 million principal amount of 4.00% Convertible Senior Notes due 2031 on November 17, 2025, with initial purchasers having an option to purchase up to an additional US$60.0 million.
The net proceeds from both offerings were primarily used to repurchase US$200.0 million aggregate principal amount of existing 5.25% convertible senior notes due 2029 for approximately US$267.9 million, and to cover approximately US$35.4 million for capped call transactions.
The remaining net proceeds are intended for datacenter expansion, ASIC-based mining rig development and manufacture, expansion of the HPC and AI cloud business, as well as working capital and other general corporate purposes.

Nov 19, 2025, 9:01 PM

6-K

Bitdeer Announces Proposed Private Placement of Convertible Senior Notes

BTDR

Debt Issuance

New Projects/Investments

Bitdeer Technologies Group announced a proposed private placement of US$400.0 million principal amount of 4.00% Convertible Senior Notes due 2031, with an option for initial purchasers to buy an additional US$60.0 million.
The notes will be senior unsecured obligations maturing on November 15, 2031, with an initial conversion price of approximately US$17.77 per Class A ordinary share.
The company intends to use the net proceeds for capped call transactions, concurrent note repurchase transactions, datacenter expansion, ASIC-based mining rig development, and expansion of its HPC and AI cloud business, along with working capital and general corporate purposes.
The sale of the notes is expected to close on November 17, 2025.

Nov 13, 2025, 1:30 PM

6-K

Bitdeer Announces October 2025 Production and Operations Update

BTDR

New Projects/Investments

Revenue Acceleration/Inflection

Bitdeer's self-mining hashrate increased to 41.2 EH/s in October 2025, surpassing its 40 EH/s target, and it mined 511 Bitcoins, a 13% increase from September 2025.
The company achieved US$8 million in AI cloud ARR as of October 2025, with 584 GPUs deployed and 87% utilization.
Energization commenced at the Massillon, Ohio site, with 21 MW expected in November 2025, and the Oromia Region, Ethiopia site, with 40 MW now online and the remaining 10 MW expected in December 2025, expanding infrastructure capacity.
Development of the next-generation SEAL04 chip is significantly delayed, although the first SEAL04 chip demonstrated promising 6-7 J/TH power efficiency at the chip level.

Nov 10, 2025, 12:56 PM

6-K

Bitdeer Technologies Group Reports Q3 2025 Financial Results

BTDR

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Bitdeer Technologies Group reported Q3 2025 revenue of $169.7 million, representing a 173.6% increase year-over-year, and achieved Adjusted EBITDA of $43.0 million, compared to a negative $7.9 million in Q3 2024.
The company recorded a net loss of $266.7 million for Q3 2025, primarily due to $247.6 million in non-cash fair value changes of derivative liabilities related to convertible senior notes.
Bitdeer's self-mining hash rate reached 41.2 EH/s by the end of October 2025, surpassing its annual target, and mass production of the SEALMINER A3 series has commenced.
The company is expanding its AI strategy, with an optimistic projection that allocating 200 MW of power capacity to AI cloud services could generate an annualized revenue run-rate exceeding $2 billion by the end of 2026.

Nov 10, 2025, 12:55 PM

6-K

Bitdeer Technologies Group Announces September 2025 Production and Operations Update

BTDR

Earnings

Product Launch

New Projects/Investments

Bitdeer's self-mining operations produced 452 Bitcoins in September 2025, representing a 20.5% increase from August 2025, with the self-mining hashrate reaching 35.0 EH/s.
The company launched mass production of its SEALMINER A3 series and completed the first tape-out of its SEAL04 chip, which demonstrated sub-10 J/TH power efficiency in initial testing.
Bitdeer is significantly expanding its HPC/AI strategy, with the Clarington, Ohio site's 570 MW electrical capacity confirmed to be available by the end of Q3 2026, nearly a year earlier than anticipated.
The Bitdeer.AI cloud business achieved an US$8 million AI cloud annualized revenue run-rate (ARR) in September 2025 and plans to deploy 1,160 GPUs by year-end.

Oct 15, 2025, 10:01 AM

6-K

Bitdeer Technologies Group Announces September 2025 Production and Operations Update

BTDR

Product Launch

New Projects/Investments

Guidance Update

Bitdeer Technologies Group reported its unaudited mining and operations updates for September 2025, with 452 Bitcoins mined and an increase in self-mining hashrate to 35.0 EH/s, remaining on track to reach 40 EH/s by the end of October.
The company launched and commenced mass production of its SEALMINER A3 series in September, with initial deliveries expected in October 2025, and completed the first tape out of its SEAL04 chips which demonstrated sub-10 J/TH efficiency in initial testing.
Bitdeer is expanding its HPC/AI strategy, confirming that 570 MW of electrical capacity will be available at its Clarington, Ohio site by the end of Q3 2026, and reported US$8 million in AI cloud annualized revenue run-rate (ARR) for September.
Infrastructure developments include the official launch of a new 300 MW power pipeline in Niles, Ohio, targeting energization in Q1 2029, and an increase in the total global power pipeline to 3 GW.

Oct 14, 2025, 8:32 PM

Press Release

Bitdeer Shifts Strategy to Expand Self-Mining Operations

BTDR

New Projects/Investments

Demand Weakening

Revenue Acceleration/Inflection

Bitdeer Technologies Group is strategically shifting from primarily selling Bitcoin mining rigs to significantly expanding its self-mining operations.
The company has nearly tripled its proprietary mining capacity to 22.5 exahashes per second between late 2024 and mid-2025, mining 375 BTC in August 2025.
This pivot is a response to weakening demand for mining hardware and aims to offset subdued sales, with Bitdeer's goal to become one of the top five global Bitcoin miners by computing power.
Despite Bitcoin's price surge past $126,000, mining profitability is under pressure due to the 2024 halving and rising network difficulty.

Oct 9, 2025, 5:51 PM

Bloomberg

Bitdeer Technologies Group Reports H1 2025 Financial Results and Strategic Developments

BTDR

Earnings

Debt Issuance

New Projects/Investments

Bitdeer Technologies Group reported a net profit of $261.7 million for the six months ended June 30, 2025, a significant improvement from a net loss of $17.1 million in the prior year period, largely driven by non-cash gains of $415.9 million from fair value changes of derivative liabilities.
Revenue for the six months ended June 30, 2025, increased to $225.7 million, with a notable shift in mix as sales of mining rigs and accessories contributed $73.6 million.
The company undertook significant financing activities, including the issuance of US$375.0 million in 4.875% convertible senior notes in June 2025 and securing US$485.0 million in new loan drawdowns from Matrixport by September 29, 2025.
Strategic investments include the acquisition of a 50 MW mining datacenter in Ethiopia for US$7.5 million and a 101 MW site and gas-fired power project in Alberta for US$21.7 million.

Sep 29, 2025, 8:10 PM

6-K

Bitdeer Announces August 2025 Production and Operations Update

BTDR

Product Launch

New Projects/Investments

Revenue Acceleration/Inflection

Bitdeer Technologies Group's self-mining hashrate increased by 35% to 30.0 EH/s in August 2025, resulting in 375 Bitcoins self-mined, a ~33% increase from July 2025.
The company's Bitdeer.AI neo cloud business achieved US$8 million in AI cloud annual run-rate revenue (ARR) in August 2025.
Bitdeer is on track to reach its target of 40 EH/s of self-mining by the end of October 2025, with 18.0 EH/s of SEALMINER A2 mining rigs deployed for self-mining in August 2025.
Infrastructure updates include 161 MW online in Tydal, Norway, and 367.5 MW online in Jigmeling, Bhutan, with remaining capacities expected to be energized by the end of Q3 2025.

Sep 12, 2025, 12:26 PM

6-K

Earnings Transcripts

Quarterly earnings call transcripts for Bitdeer Technologies.

Ask Fintool AI Agent

Get instant answers from SEC filings, earnings calls & more

What are Bitdeer Technologies's strategic priorities?How is Bitdeer Technologies positioned vs competitors?How did Bitdeer Technologies do last quarter?

Let Fintool AI Agent track Bitdeer Technologies's earnings for you

Get instant analysis when filings drop