Bitdeer Technologies Group: Mixed — EPS -$0.46, Revenue $320.75M
Mixed ResultQ3 2026 · Pre-market
Did Bitdeer Technologies Group (BTDR) beat earnings today?
It was a mixed report for Q3 2026 — Bitdeer Technologies Group (BTDR) beat on revenue but missed on EPS.
Earnings Per Share-24.32% surprise
-$0.46Actual
Expected: -$0.37
vs. year ago -228.6%
Total Revenue+24.23% surprise
$320.75MActual
Expected: $258.19M
vs. year ago +89.0%
Released Nov 10 · 7:00 AM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $320.75M | $169.71M | +89.0 |
| Revenue detail — reported lines | |||
| └─Self-mining | $217.56M | $130.91M | +66.2 |
| └─Co-mining | $59.92M | - | - |
| └─AI Cloud | $20.42M | $1.80M | +1034.4 |
| └─Cloud hash rate | $3.60M | - | - |
| └─General hosting | $4.00M | $8.40M | -52.4 |
| └─Membership hosting | $10.20M | $14.00M | -27.1 |
| └─SEALMINERs and Accessories | $300.00K | $11.40M | -97.4 |
| Net Loss | ($125.50M) | ($30.10M) | -316.9 |
| GAAP Basic EPS | -$0.46 | -$0.14 | -228.6 |
| GAAP Diluted EPS | -$0.46 | -$0.14 | -228.6 |
Business Highlights
- ➤AI Cloud revenue backlog reached approximately US$2.9 billion.
- ➤Construction at Tydal remained on target.
- ➤Tydal phase 1 supports a 16-year AI/HPC lease with Volta.
- ➤Tydal phase 1 will configure 121 IT MW to run NVIDIA GPUs.
- ➤Massillon’s full 221 MW electrical capacity is now online.
- ➤Bitdeer acquired approximately 200 acres near its Rockdale facility for AI/HPC development.
- ➤Rockdale’s 179 MW load increase is under construction, with phased energization beginning Q4 2026.
- ➤Malaysia A202 agreement secures 65.1 MW at the Johor campus.
- ➤Malaysia A201 ordered over 100 GB300 NVL72 racks ahead of energization.
- ➤Malaysia A102 has 100% of GPU capacity contracted under five-year commitments.
- ➤Fox Creek’s gas-power-plant groundbreaking occurred in June 2026.
- ➤Wenatchee was redesigned with skid-mounted infrastructure to simplify permitting.
Management Commentary
Michael G. Potter, Chief Financial Officer of Bitdeer
“We delivered record revenue of US$320.7 million in the third quarter, up 89% year-over-year, while Adjusted EBITDA rose 173% to US$69.6 million,”
Michael G. Potter, Chief Financial Officer of Bitdeer
“At the same time, we are converting AI demand into long-duration contracts. Our AI Cloud revenue backlog has grown to approximately US$2.9 billion, and construction at Tydal remains on target. Customer prepayments, together with project-level financing, are designed to fund AI capacity as it is contracted. Our priorities are clear: deliver Tydal, complete our financings and bring Malaysia online.”