Slide 1: Q3’25 Supplemental Investor Presentation
Q3’25 Supplemental Investor Presentation A leading tech company for the blockchain & accelerated compute communities November 2025 NASDAQ: BTDR
Slide 2: Disclaimer & Forward-Looking Statements
Disclaimer & Forward-Looking Statements This presentation and the accompanying oral presentation have been prepared by Bitdeer Technologies Group (the “Company”) solely for information purpose, and has not been independently verified. By viewing or accessing the information contained in this present
Slide 3: Q3’25 Financial & Operational Highlights
Q3’25 Financial & Operational Highlights Financial Revenue • Total revenue of $169.7M • Gross profit of $40.8M • R&D and SG&A of $60.5M $169.7M • Net loss after tax of $266.7M $62.0M • Adjusted EBITDA of $43.0M • Cash and cash equivalents of $196.3M Q3'24 Q3'25 • Crypto balance1 of $246.2M Operation
Slide 4: Q3’25: Inflection Point for Growth
Q3’25: Inflection Point for Growth Self-mining Hosting Sale of SEALMINERs • Significant increase in self-mined BTCs, benefiting • Relatively stable hash rate capacity • 0.8 EH/S of mining rigs sold in Q3 or $11.4 million revenue from higher hash rate from energization of SEALMINERs Hash rate Hash ra
Slide 5: Adjusted EBITDA
Adjusted EBITDA The higher QoQ performance in 3Q25 were mainly driven by by significantly higher self-mining hashrate as a result of the Company’s mass production and deployment of SEALMINERs A1 and A2 during 2025. ($ mm) 93.2 97.0 BTC halving First A4 39.4 43.0 chips tape out 17.3 (7.9)1 (3.8) Two
Slide 6: Bitdeer.AI® - From Cloud Computing to Co-Location
Bitdeer.AI® - From Cloud Computing to Co-Location Bitdeer has two primary business models in HPC / AI Cloud Service Provider Co-Location Services Datacenter & GPU Deployment Rack-Ready Datacenter Contract Duration: 0.5 – 5 Years Contract Duration: 10 – 20 Years CapEx / MW(1) : $29mm - $33mm CapEx /
Slide 7: Bitdeer Pipeline Overview | Clarington, OH
Bitdeer Pipeline Overview | Clarington, OH Site Location Key Figures 570 MW Q3 2026 Total Capacity Power Ready Timing Summary Tier (Type) Target: Tier 3 (Turn-Key) Leased from the Monroe County Port Authority (MCPA) Land Status through 2095 Utility BTDR tracts denoted AEP Ohio (PJM) Counterpart in g
Slide 8: Bitdeer Pipeline Overview | Tydal, Norway
Bitdeer Pipeline Overview | Tydal, Norway Site Location Key Figures 175 MW Now Total Capacity Energization Timing Summary Target: Tier 3 (Turn-Key) Tier (Type) Current: Bitcoin Mining Land Status Owned Utility Tensio Counterpart Historical All-in: $39 / MWh2 Site Highlights [63.031772, 11.687045] Po
Slide 9: Bitdeer Pipeline Overview | Wenatchee, WA
Bitdeer Pipeline Overview | Wenatchee, WA Site Location Key Figures 13 MW Now Total Capacity Energization Timing Summary Target: Tier 3 (Turn-Key) Tier (Type) Current: Bitcoin Mining Land Status Owned Utility Douglas County PUD Counterpart Historical All-in: $69 / MWh2 Site Highlights [47.4141246780
Slide 10: Bitdeer Pipeline Overview | Knox County, TN
Bitdeer Pipeline Overview | Knox County, TN Site Location Key Figures 10 MW Now Total Capacity Energization Timing Summary Target: Tier 3 (Turn-Key) Tier (Type) Current: Bitcoin Mining Land Status Owned Utility Knoxville Utility Board (TVA) Counterpart Historical All-in: $44 / MWh2 Site Highlights [
Slide 11: 1.6 GW Existing Capacity and Secured 3.0 GW
1.6 GW Existing Capacity and Secured 3.0 GW Globally distributed data centers ensure a stable power supply HPC Texas US Ohio US Tennessee US Oromia Region Tydal Norway Molde Norway 563 MW 1,091 MW* 86 MW Ethiopia 225 MW 84 MW 8 BTC 179 MW* 40 MW Data Centers 10 MW* Hashing DGX SuperPOD 1.6 GW Operat
Slide 12: Global Scale with Strong Power Pipeline
Global Scale with Strong Power Pipeline 2.1 GW of power capacity will be online by Q4 20261 Location Existing MW Pipeline MW Total MW Power Source Timing2 Existing / Pipeline Completed Pipeline Electrical capacity Grid Rockdale, Texas 563 179 742 Completed / Estimate 2026 (ERCOT) Knoxville, Tennesse
Slide 13: ASIC Market TAM Opportunity
ASIC Market TAM Opportunity Market for ASICs will grow due to efficiency upgrades and new infra ASIC Revenue TAM Total Hash Rate Sold ‘25-’27, $B Assuming 1,250 EH sold at average $17/TH by 2028 750 EH 1,000 EH 1,250 EH 1,500 EH 1,750 EH ASIC Sale Price $/TH $15.0/TH $ 11.25 $ 15.00 $ 18.75 $ 22.50
Slide 14: SEALMINER® - Game Changing Technology
SEALMINER® - Game Changing Technology Recent generations of ASICs have started to taper off in efficiency gains BTDR’s SEALMINER ASIC Efficiency, J/TH2 Technology Roadmap SEALMINER A1 Released in Q3 2024 40 21.5 J/TH SEALMINER A2 Pro & A2 30 Production in Q4 2024 ~14.9-16.5 J/TH 20 SEALMINER A3 Prod
Slide 15: Strong Balance Sheet and Disciplined ATM Usage
Strong Balance Sheet and Disciplined ATM Usage Highest insider ownership in industry aligns incentives with shareholders 1 2 $ Raised VWAP $196M3 $241M $25 Cash & Cash Equivalents $20 $15 $246M3 $106M Crypto Balance4 $10 $73M $73M $5 $20M $19M $8M $12M $3M$3M $2M $0 $824M3 Jan Feb Mar Apr May Jun Ju
Slide 16: Thank You
Thank You | é> BITDEER
Slide 17: Income Statement
Income Statement Three months ended Nine months ended September 30, September 30, (US $ in thousands) 2025 2024 2025 2024 Revenue 169,708 62,029 395,418 280,764 Cost of revenue (128,881) (59,264) (344,996) (219,463) Gross profit 40,827 2,765 50,422 61,301 Selling expenses (1,284) (2,229) (4,303) (6,
Slide 18: Balance Sheet
Balance Sheet As of September 30, As of December 31, (US $ in thousands) 2025 2024 As of September 30, As of December 31, LIABILITIES (US $ in thousands) 2025 2024 Current liabilities ASSETS Trade payables 78,049 31,471 Current assets Other payables and accruals 50,254 40,617 Cash and cash equivalen
Slide 19: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation Use of Non-IFRS Financial Measures In evaluating the Company’s business, the Company considers and uses non-IFRS measures, adjusted EBITDA, as supplemental measures to review and assess its operating performance. The Company defines adjusted EBITDA as earnings before i