Bitdeer Reports Unaudited Third Quarter 2026 Results: Record Revenue of US$320.7 Million; Adjusted EBITDA Up 173% to US$69.6 Million
Key Highlights
- ➤Bitdeer (BTDR) revenue hit record US$320.7 million, up 89% year-over-year
- ➤Adjusted EBITDA rose 173% year-over-year to US$69.6 million
- ➤Net loss widened to US$125.5 million, including US$54.6 million non-cash loss
- ➤AI Cloud revenue backlog grew to approximately US$2.9 billion
- ➤Gross margin fell to 3.4% from 23.4% year-over-year
Expert Statements
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.”
Michael G. Potter, Chief Financial Officer of Bitdeer
“Our AI Cloud revenue backlog has grown to approximately US$2.9 billion, and construction at Tydal remains on target.”
Michael G. Potter, Chief Financial Officer of Bitdeer
“Customer prepayments, together with project-level financing, are designed to fund AI capacity as it is contracted.”
Michael G. Potter, Chief Financial Officer of Bitdeer
“Our priorities are clear: deliver Tydal, complete our financings and bring Malaysia online.”
SINGAPORE, Nov. 10, 2026 (GLOBE NEWSWIRE) -- Bitdeer Technologies Group (NASDAQ: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for AI neocloud services and Bitcoin mining infrastructure, today released its unaudited financial results for the third quarter ended September 30, 2026.
Q3 2026 Financial(1) Highlights All amounts compared to Q3’25 unless otherwise noted * Total revenues were a record US$320.7 million, up 89% vs. US$169.7 million and up 40% from US$228.8 million in Q2’26. * Total cost of revenues were US$309.9 million vs. US$130.0 million. * Gross profit was US$10.8 million vs. US$39.7 million; up US$19.4 million from a gross loss of US$8.5 million in Q2’26. * Net loss was US$125.5 million vs. US$30.1 million, including a non-cash loss of US$54.6 million from the change in fair value of the digital assets loan. * Adjusted EBITDA(2) was US$69.6 million, up 173% vs. US$25.5 million and up 124% from US$31.1 million in Q2’26. * Cash, cash equivalents and restricted cash were US$213.7 million as of September 30, 2026. * Digital assets and digital assets receivables were US$387.0 million as of September 30, 2026. Management Commentary
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