Bitdeer Technologies Reports 372% Increase in Bitcoin Mining

Written by Emily J. Thompson, Senior Investment Analyst

Source: seekingalpha

Updated: May 12 2026

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BTDR-1.81%

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Source: seekingalpha

Bitcoin Mining Performance: Bitdeer Technologies mined 783 Bitcoins over the past year, reflecting a remarkable 372% year-over-year increase, indicating strong growth momentum in the cryptocurrency market, with expectations for continued positive mining results in the coming months.
Self-Mining Hash Rate Increase: The company's self-mining hash rate reached approximately 65.5 EH/s, showcasing significant improvements in mining efficiency and capacity, which further solidifies its competitive position in the industry.
Co-Mining Hash Rate: Through collaboration with third-party data centers, Bitdeer's co-mining hash rate achieved 8.4 EH/s, enhancing resource utilization and strengthening the company's adaptability in the market.
New Product Launch: Bitdeer officially launched the industry-leading SEALMINER A4 series, including A4 Ultra Hydro, A4 Pro Hydro, and A4 Pro Air, marking the company's ongoing commitment to technological innovation aimed at meeting the growing market demand.

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Analyst Views on BTDR

Wall Street analysts forecast BTDR stock price to rise

10 Analyst Rating

10 Buy

0 Hold

0 Sell

Strong Buy

Current: 14.920

Low

25.00

Averages

32.60

High

40.00

Current: 14.920

Low

25.00

Averages

32.60

High

40.00

B. Riley

Nick Giles

Buy

maintain

$22 -> $23

2026-05-15

Reason

B. Riley

Nick Giles

Price Target

$22 -> $23

AI Analysis

2026-05-15

maintain

Buy

Reason

B. Riley analyst Nick Giles raised the firm's price target on Bitdeer to $23 from $22 and keeps a Buy rating on the shares. Bitdeer reported adjusted EBITDA slightly below expectations amid higher power costs and weaker Bitcoin pricing, but highlighted strong operational execution including a sharp increase in self-mining output, improved mining efficiency, rapid scaling of its AI cloud business with rising GPU utilization, and continued progress toward monetizing its Tydal data center through advanced-stage leasing discussions, the analyst tells investors in a research note.

Rosenblatt

Buy

maintain

$18 -> $25

2026-05-15

Reason

Rosenblatt

Price Target

$18 -> $25

2026-05-15

maintain

Buy

Reason

Rosenblatt raised the firm's price target on Bitdeer to $25 from $18 and keeps a Buy rating on the shares post the Q1 report. The company's revenue beat expectations but its gross margin turned negative on lower bitcoin prices and seasonally higher energy costs, the analyst tells investors in a research note. The firm believes investors should look beyond Bitdeer's near term headwinds and consider its "longer term growth vectors." It believes a co-location data center deal for the company's 225MW Tydal, Norway site is near to being closed. Bitdeer also has an expanding AI cloud computing business which grew over 150% year-over-year, adds Rosenblatt.

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About BTDR

Bitdeer Technologies Group is a technology company for blockchain. It provides computing solutions for customers. The Company handles processes involved in computing, such as equipment procurement, transport logistics, datacenter design and construction, and equipment management. It primarily operates three business lines, namely self-mining, hash rate sharing, and hosting. Self-mining refers to cryptocurrency mining for its own account, which allows it to directly capture the high appreciation potential of cryptocurrency. It offers two types of hash rate sharing solutions, namely Cloud Hash Rate and Hash Rate Marketplace. Through Cloud Hash Rate, the Company sells its hash rate to customers. It offers hash rate subscription plans at a fixed price and shares mining income with them under certain arrangements. Its hosting services offer customers one-stop mining rig hosting solutions encompassing deployment, maintenance, and management services for efficient cryptocurrency mining.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

Bhutan Denies Selling $1 Billion in Bitcoin

May 18 2026Yahoo Finance

Bitcoin Controversy: Bhutan disputes reports of selling $1 billion in Bitcoin, despite allowing its sovereign wealth fund to mine Bitcoin in 2019, peaking at 13,000 BTC in 2024, representing 40% of its GDP.
Salary Increase: In 2023, Bhutan sold $100 million in Bitcoin to double civil servant salaries, successfully reducing the number of departing civil servants from 1,900 to 500, demonstrating effective economic management.
Mining Status: Despite having mining equipment and cheap electricity, there is little evidence that Bhutan is still mining Bitcoin, possibly due to the current economic conditions making mining less profitable.
Historical Context: Bhutan was once among the top Bitcoin participating nations alongside the U.S. and El Salvador, but transferred $817 million in Bitcoin to BlockFi and Celsius in 2021, both of which have since gone bankrupt, raising concerns about fund security.

Bitdeer Technologies Q1 Earnings Report Analysis

May 14 2026seekingalpha

Disappointing Earnings: Bitdeer Technologies reported a Q1 GAAP EPS of -$0.68, missing expectations by $0.20, indicating significant challenges in profitability that may affect investor confidence.
Revenue Surge: Despite the EPS miss, Bitdeer's revenue reached $188.9 million, a 169.5% year-over-year increase, exceeding market expectations by $6.21 million, demonstrating strong demand in the market.
Widening Net Loss: The company reported a net loss of $159.5 million compared to a net profit of $105.3 million last year, highlighting the severe impact of operational costs and market volatility on its financial health, which could complicate future financing.
Healthy Cash Position: As of March 31, 2026, Bitdeer held $297.7 million in cash and cash equivalents, maintaining relatively healthy liquidity despite losses, which will aid in strategic adjustments moving forward.

Bitdeer Technologies to Announce Q1 Earnings on May 14

May 13 2026seekingalpha

Earnings Announcement Schedule: Bitdeer Technologies is set to release its Q1 earnings report on May 14 before market open, with a consensus EPS estimate of -$0.43, reflecting a 16.2% year-over-year decline, indicating challenges in profitability.
Revenue Expectations: The anticipated revenue for Q1 is $182.69 million, representing a 160.6% year-over-year increase, despite facing multiple downward revisions, suggesting the company retains growth potential in the rapidly expanding Bitcoin mining market.
Estimate Revision Overview: Over the past three months, Bitdeer has seen no upward revisions in EPS estimates and two downward adjustments, while revenue estimates have faced seven downward revisions, reflecting market caution regarding the company's future performance.
Bitcoin Mining Output Surge: Bitdeer Technologies reported a remarkable 372% increase in Bitcoin mining output, which could support the company's future financial performance, although it also raises concerns about intensifying market competition.