Quarterly ResultMay 14, 2026, 04:08 PM
Bitdeer Q1 Revenue $188.9M (+169%); Net Loss $159.5M; Adj. EBITDA $14.4M
AI Summary
Bitdeer Technologies Group reported unaudited financial results for Q1 2026, showing a significant increase in total revenue to $188.9 million, up 169.3% year-over-year. Despite this growth, the company recorded a net loss of $159.5 million, a shift from a net profit in the prior year, primarily due to higher costs and interest expenses. However, Adjusted EBITDA turned positive at $14.4 million, compared to a negative $45.6 million in Q1 2025, reflecting operational improvements and increased self-mining hashrate. The company is actively expanding its AI Cloud business and converting crypto mining facilities to AI data centers.
Key Highlights
- Total revenue increased 169.3% to $188.9 million in Q1 2026 from $70.1 million in Q1 2025.
- Net loss was $159.5 million in Q1 2026, compared to a net profit of $105.3 million in Q1 2025.
- Adjusted EBITDA improved to positive $14.4 million from negative $45.6 million year-over-year.
- Self-mining revenue grew to $146.9 million, driven by a 551.5% increase in average self-mining hashrate to 63.2 EH/s.
- AI Cloud annualized run-rate revenue exceeded $69 million, with Q1 AI Cloud revenue at $3.7 million.
- Cash, cash equivalents, and restricted cash stood at $297.7 million as of March 31, 2026.
- Total global electrical capacity reached 3,003.5 MW, with several sites being converted for AI Cloud/Colocation.
- Total liabilities increased to $2.37 billion as of March 31, 2026, from $1.94 billion as of December 31, 2025.