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Bitdeer Technologies Group

Bitdeer Technologies Group

NASDAQ•BTDR
CEO: Mr. Jihan Wu
Sector: Technology
Industry: Software - Application
Listing Date: 2021-07-28
Bitdeer Technologies Group operates as a technology company for blockchain and computing. It offers hash rate sharing solutions, including Cloud hash rate and Hash rate marketplace; and a one-stop mining machine hosting solutions encompassing deployment, maintenance, and management services for efficient cryptocurrency mining; as well as mines cryptocurrencies for its own account. The company also operates mining datacenters to generate hash rate; handles various processes involved in computing, such as equipment procurement, transport logistics, datacenter design and construction, equipment management, and daily operations; and sells mining machines. The company is headquartered in Singapore.
Contact Information
#09-03/04, Aperia tower 1, 08 Kallang Avenue, Singapore, 339509, Singapore
N/A
www.bitdeer.com
Market Cap
$2.05B
P/E (TTM)
-6.0
80.8
Dividend Yield
--
52W High
$27.80
52W Low
$6.84
52W Range
14%
Rank62Top 82.4%
2.3
F-Score
Modified Piotroski Analysis
Based on 6-year fundamentals
Weak • 2.3 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2019-2024

Financial Dashboard

Q3 2025 Data

Revenue

$169.71M+173.59%
4-Quarter Trend

EPS

-$1.28+265.71%
4-Quarter Trend

FCF

-$580.03M+379.88%
4-Quarter Trend

2024 Annual Earnings Highlights

Key Highlights

Self-Mining Revenue Surges Self-mining revenue reached $163.1M in 2024, marking a 46.0% increase, driven by higher Bitcoin prices.
Cash Position Significantly Strengthened Cash and equivalents grew to $476.3M by year-end 2024, supported by $844.3M in net financing cash flow.
Proprietary ASIC Development Accelerated R&D expenses rose 160.5% to $76.9M in 2024, focusing on SEALMINER A2 Pro and future ASIC technology.
Total Revenue Experienced Slight Dip Total revenue decreased 5.1% to $349.8M in 2024, primarily due to declines across hash rate sharing and hosting segments.

Risk Factors

Substantial Net Loss Recorded Net loss widened significantly to $599.2M in 2024, contrasting sharply with the $56.7M loss reported in 2023.
High Derivative Liabilities Exposure Derivative liabilities totaled $763.9M at year-end 2024, mainly stemming from convertible note embedded features.
Electricity Costs Remain Major Burden Electricity cost for operating rigs was $179.8M in 2024, representing 41.5% of total cost of revenue.
Regulatory Uncertainty Poses Risk Evolving global regulatory landscape regarding crypto assets creates uncertainty impacting operations and potential compliance costs.

Outlook

Expanding Global Datacenter Footprint Aggregate pipeline capacity stands at 1,794 MW across multiple sites, with expansion expected through 2026.
Focus on Next Generation ASIC R&D remains on track for SEALMINER A3 series chips, aiming for 9.7 J/TH efficiency with SEAL03 testing.
New Financing Secured for Growth Secured a $200.0M loan facility in April 2025, supporting ongoing capital requirements and strategic investments.
Diversifying HPC and AI Cloud Services Developing HPC and AI cloud business, including deployment of NVIDIA DGX SuperPOD H100 systems in Asia.

Peer Comparison

Revenue (TTM)

Compass, Inc.COMP
$6.64B
+24.3%
Global Business Travel Group, Inc.GBTG
$2.52B
+5.7%
StoneCo Ltd.STNE
$2.42B
+12.0%

Gross Margin (Latest Quarter)

StoneCo Ltd.STNE
77.1%
+3.8pp
OneStream, Inc.OS
68.1%
+17.9pp
Vertex, Inc.VERX
63.1%
-1.7pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
COMP$5.66B-103.7-8.9%29.1%
QTWO$4.56B931.70.9%38.9%
OS$4.48B-38.3-19.1%1.9%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
35.0%
Strong Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
0%
Cash Flow Needs Attention

Research & Insights

Next earnings:Feb 24, 2026
|
EPS:-$0.15
|
Revenue:-
Reports
All Years

  • Form 20-F - FY 2024

    Period End: Dec 31, 2024|Filed: Apr 21, 2025|
    Revenue: $349.78M-5.1%
    |
    EPS: $-4.36-754.9%
    Miss

  • Form 20-F - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 28, 2024|
    Revenue: $368.55M+10.6%
    |
    EPS: $-0.51+5.6%
    Miss

  • Form 20-F - FY 2022

    Period End: Dec 31, 2022|Filed: Apr 28, 2023|
    Revenue: $333.34M-15.5%
    |
    EPS: $-0.54-173.0%
    N/A

  • Form 20-F - FY 2022

    Period End: Apr 13, 2023|Filed: Apr 19, 2023|Refer to amended data