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Bitdeer Reports Unaudited Financial Results for the First Quarter of 2026
SINGAPORE, May 14, 2026 (GLOBE NEWSWIRE) -- Bitdeer Technologies Group (NASDAQ: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for AI
About this update from Bitdeer Technologies Group
[{"type":"text","content":"SINGAPORE, May 14, 2026 (GLOBE NEWSWIRE) -- Bitdeer Technologies Group (NASDAQ: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for AI and Bitcoin mining infrastructure, today released its unaudited financial results for the first quarter ended March 31, 2026. Q1 2026 Financial1 HighlightAll amounts compared to Q1’25 unless otherwise noted Total revenue was US$188.9 million vs. US$70.1 million.Cost of revenue was US$228.0 million vs. US$74.1 million.Gross loss was US$39.0 million vs. US$4.0 million.Net loss was US$159.5 million vs. net profit of US$105.3 million.Adjusted EBITDA2 was positive US$14.4 million vs. negative US$45.6 million.Cash, cash equivalents and restricted cash were US$297.7 million as of March 31, 2026.Digital assets and digital assets - receivable balance: US$245.0 million as of March 31, 2026. Management Commentary \"The first quarter of 2026 demonstrated the breadth of Bitdeer's execution capability,\" said Matt Kong, Chief Business Officer of Bitdeer Technologies Group. \"We launched the SEALMINER A4, our most efficient mining rig to date, advancing our vertically integrated hardware platform and reinforcing the competitive foundation of our mining business. We activated development of our Tydal facility in Norway, which is expected to become Norway's largest operational AI data center upon completion. And we continue to grow our AI Cloud business, recently exceeding $69 million in annualized run-rate revenue.\" Mr. Kong continued, \"Underpinning all of this is a global power portfolio of approximately 3.0 gigawatts that we believe is one of the most strategically valuable infrastructure assets in our sector. We are in advanced stages of negotiations with a credit-worthy colocation tenant for Tydal and are confident in our ability to execute a signed agreement. I believe 2026 will be a defining year for Bitdeer as an AI infrastructure platform.\" Operational Summary Three Months Ended March 31Metric20262025Hash Rate Metrics: Self-Mining (Operated in self-owned datacenters)65.111.5Co-Mining (Operated in 3rd party datacenters)4.4-Other Proprietary Hash Rate31.40.6Hosting47.212.1Total Hash Rate under Mgmt.5 (EH/s)78.124.2 Mining Rig Metrics:Self-Mining6207,00097,000Co-Mining718,000-Hosted37,00078,000Total Mining Rigs under Mgmt.262,000175,000 BTC Mined82,033350BTC Held9311,156Total Power...