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Bitdeer reports record $320.7 million Q3 revenue as bitcoin output surges

Bitcoin miner Bitdeer posted record third-quarter revenue of $320.7 million on a 248% surge in bitcoin production, even as its net loss expanded to $125.5 million amid loan-related valuation adjustments.

Bitdeer logo and NASDAQ ticker BTDR displayed against a light gray background.
Image: @wallstengine

Bitcoin mining firm Bitdeer Technologies Group reported record third-quarter revenue of $320.7 million, an 89% increase year over year that beat market projections of $256 million. The top-line expansion was driven by a 248% jump in bitcoin production to 3,855 BTC, according to earnings details shared by The Block and Wall St Engine.[1][2][3][4]

Operational profitability showed substantial gains, with adjusted EBITDA jumping 173% year over year to $69.6 million. However, Bitdeer's net loss widened to $125.5 million, resulting in an earnings per share loss of $0.46 compared to the estimated loss of $0.34. The net loss reflected a $54.6 million fair-value loss on a digital assets loan, while gross margin fell 2,000 basis points year over year to 3.4%.[1][2][3][4]

Alongside mining, Bitdeer highlighted growing traction across high-performance computing, bringing in $20.4 million in quarterly AI Cloud revenue. The company reported an AI Cloud backlog of roughly $2.9 billion with about 332 IT megawatts secured, in addition to a $4.7 billion, 16-year AI and HPC lease at Tydal covering 121 IT megawatts with roughly $8.0 billion in potential value. Company leadership noted that construction at Tydal remains on track, naming the project's delivery, financings, and the launch of operations in Malaysia as top operational priorities.[2][6]

Bitdeer also expanded its balance sheet reserves, lifting its bitcoin holdings 35% during the quarter to reach 2,029 BTC, Crypto Briefing reported.[5]

Key facts

  • Bitdeer reported record third-quarter revenue of $320.7 million, up 89% year over year and topping consensus estimates of $256 million.
  • The company mined 3,855 BTC in the quarter, representing a 248% increase in bitcoin production.
  • Adjusted EBITDA rose 173% year over year to $69.6 million.
  • Bitdeer's net loss widened to $125.5 million, weighed down by a $54.6 million fair-value loss on a digital assets loan.
  • EPS came in at -$0.46, falling short of analyst expectations of -$0.34, while gross margin declined 2,000 basis points year over year to 3.4%.
  • Bitdeer logged $20.4 million in Q3 AI Cloud revenue and reported an AI Cloud backlog of approximately $2.9 billion across about 332 IT megawatts.
  • The company entered a 16-year, $4.7 billion AI/HPC lease at Tydal spanning 121 IT megawatts, with potential value estimated near $8.0 billion.
  • Bitdeer expanded its bitcoin treasury holdings by 35% in Q3 to reach 2,029 BTC.

Sources · 5 sources

  1. TB

    The BlockArticle ·

    Bitdeer reports record Q3 revenue as net loss widens to $125.5 million Bitdeer reported record third-quarter revenue of $320.7 million as bitcoin production surged 248% to 3,855 BTC.

    Open source
  2. WS

    Wall St Engine@wallstenginePost on X ·

    BITDEER $BTDR Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $320.7M (Est. $256M) 🟢; +89% YoY 🔹 EPS: -$0.46 (Est. -$0.34) 🔴 🔹 Adj. EBITDA: $69.6M; +173% YoY Announcements: 🔹 AI Cloud Backlog: ~$2.9B; ~332 IT MW secured 🔹 Tydal: $4.7B 16-year AI/HPC lease; 121 IT MW; ~$8.0B potential value Other Q3 Metrics: 🔹 BTC Mined: 3,855 🔹 AI Cloud Revenue: $20.4M 🔹 Gross Margin: 3.4%; -2,000 bps YoY Key Updates: 🔹 Fair-Value Loss: $54.6M on digital assets loan; included in net loss Comments: 🔸 “At the same time, we are converting AI demand into long-duration contracts. Our AI Cloud revenue backlog 3 has grown to approximately US$2.9 billion, and construction at Tydal remains on target.” 🔸 “Our priorities are clear: deliver Tydal, complete our financings and bring Malaysia online.”

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  3. BL

    BlockNews@blocknewsdotcomPost on X ·

    🚨 JUST IN: Bitcoin miner Bitdeer $BTDR reports RECORD Q3 revenue of $320.7 MILLION as Bitcoin production SURGES 248% to 3,855 $BTC! Adjusted EBITDA jumped 173% to $69.6 MILLION, while the company's net loss widened to $125.5 MILLION. https://t.co/xpUlHJ5eC7

    Open source
  4. TB

    The Block@TheBlockCoPost on X ·

    THE BLOCK: Bitdeer $BTDR reported record Q3 revenue of $320.7 million as bitcoin production rose 248% to 3,855 bitcoin:native. The miner's adjusted EBITDA increased 173% to $69.6 million, while net loss widened to $125.5 million. https://t.co/SRxgZtIfnN

    Open source
  5. CB

    Crypto BriefingArticle ·

    Bitdeer grows Bitcoin holdings 35% to 2,029 BTC in Q3 Bitdeer's strategic diversification into AI cloud services alongside Bitcoin growth could stabilize revenue, reducing reliance on volatile crypto markets. The post Bitdeer grows Bitcoin holdings 35% to 2,029 BTC in Q3 appeared first on Crypto Briefing .

    Open source
  6. CB

    Crypto BriefingArticle ·

    Bitdeer posts record $320.7 million Q3 revenue as AI lease pipeline grows Bitdeer's dual focus on Bitcoin mining and AI infrastructure highlights growth potential but underscores financial risks and strategic challenges. The post Bitdeer posts record $320.7 million Q3 revenue as AI lease pipeline grows appeared first on Crypto Briefing .

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