Bitdeer Mines 2,694 BTC in Q2 as Revenue Jumps 47% to $228.8M Despite Losses

Key Takeaways:

• Bitdeer mined 2694 BTC in Q2, almost five times as much a year ago.
• The revenue rose by 47% to $228.8 million, and net loss increased to $92.3 million.
• As the miner continues to grow AI and high performance mining efforts, Bitcoin has also dipped to 150 units.

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Bitdeer Technologies Group also indicated leaped Bitcoin mining production in 2Q 2026 as a result of a significantly increased self-mining fleet. It is also leveraging AI infrastructure, and, in this regard, converting its power and data centre footprint into a wider computing business.

The contribution of Bitdeer was 2,694 BTC in Q2 against 565 BTC in Q2 of 2025. This is an increase of almost 377% from a year ago.

The increase followed when Bitdeer began self-mining activities. Average self mining hashrate increased to 69.5 EH/s, more than a year ago when it was 14.2 EH/s. Total hash rate under management stood at 86.1 EH/s, versus 30.6 EH/s in Q2 2025.

By the end of the quarter the company had 243,000 self-mining rigs, up from 114,000 a year earlier. Including hosted machines, Bitdeer managed 289,000 mining rigs.

There was also a marked increase in the efficiency of the mining operation. The average miner efficiency dropped to 15.8 J/TH from 25.7 J/TH the year before, so that the older fleet used less energy output per unit of mined computing power.

However, in spite of this rapid increase of production, Bitdeer managed to end June with 150 BTC, up from 1,502 BTC from a year ago. At the end of the quarter, it had $196.9 million in digital assets and digital-asset receivables.

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Bitdeer’s Q2 revenues rose to $228.8M from $155.6M a year prior. Self-mining guano made up $168.4 million of the total, while co-mining generated $25 million.

In addition, the revenue of AI Cloud also experienced a significant transformation from $1.3 million in Q2 2025 to $14 million. Cloud hash-rate revenue added another $3.7 million.

But, with more money came no quarterly profit. Bitdeer’s cost of revenue rose to $237.3 million, which resulted in a gross loss of $8.5 million. The net loss increased to $92.3 million from $62.9 million a year ago.

More electricity consumption, depreciation, staffing expenses and infrastructure costs were the reasons for lower results as Bitdeer squeezed in more mining capability. However, adjusted EBITDA rose significantly to $31.1 million from $4.6 million in the previous Q2 2025.

Bitdeer is increasingly positioning its energy infrastructure for both crypto mining and AI computing. The company reported 2,980.2 MW of total global electrical capacity, including 1,752 MW already online and 1,228.2 MW in its development pipeline.

Its Norway operations are central to the strategy. Bitdeer has secured a 16-year, $4.7 billion AI/HPC lease agreement connected to its Tydal site, with 121 IT MW planned for NVIDIA GPU deployments for a major AI customer.

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