Bitdeer Technologies Group (NASDAQ:BTDR) Releases Earnings Results, Misses Expectations By $0.13 EPS

Bitdeer Technologies Group (NASDAQ:BTDR) posted its quarterly earnings data on Tuesday. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.13), Zacks reports. The firm had revenue of $320.75 million during the quarter, compared to analysts’ expectations of $258.18 million. Bitdeer Technologies Group had a negative net margin of 31.84% and a negative return on equity of 34.08%. Bitdeer Technologies Group’s quarterly revenue was up 89.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.28) EPS.

Here are the key takeaways from Bitdeer Technologies Group’s conference call:

• Bitdeer reported record third-quarter revenue of $320.7 million, up 89% year over year, and Adjusted EBITDA of $69.6 million. Gross profit turned positive, while the $125.5 million net loss included significant non-cash charges.
• The AI platform’s expected contracted revenue reached about $7.6 billion, including $2.9 billion of AI cloud backlog and $4.7 billion from Tydal’s base lease term. Management also reported about 332 IT megawatts of secured AI cloud capacity, while noting secured capacity is not the same as customer-contracted capacity.
• Tydal phase one remains on schedule for year-end, with customer installations expected to begin in January; phase two deliveries are expected to start in 2027. The company is pursuing project financing, and completion and financing remain important execution milestones.
• Bitcoin mining output rose to 3,855 BTC, up 43% from the prior quarter, while the quarter-end self-mining hash rate reached 82.3 EH/s. Power cost per Bitcoin was about $36,000, down from $49,000 a year earlier, as fleet efficiency improved.
• Cash and cash equivalents fell to $163.7 million from $456.8 million as quarterly capital expenditures reached $478 million; total debt was $1.95 billion. Bitdeer said it expects to rely on project- and GPU-level financing, customer prepayments and Bitcoin sales to fund growth, and those financings are still being pursued.

Bitdeer Technologies Group Stock Down 8.2%

Shares of NASDAQ:BTDR traded down $0.57 during trading on Thursday, hitting $6.46. 1,749,729 shares of the company were exchanged, compared to its average volume of 9,740,218. The stock has a market capitalization of $1.47 billion, a P/E ratio of -2.88 and a beta of 2.72. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.01 and a quick ratio of 1.01. Bitdeer Technologies Group has a 12-month low of $5.03 and a 12-month high of $20.72. The firm’s 50 day moving average price is $9.55 and its 200-day moving average price is $11.39.

Wall Street Analyst Weigh In

BTDR has been the subject of a number of recent research reports. Needham & Company LLC decreased their price target on shares of Bitdeer Technologies Group from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday. Wall Street Zen raised shares of Bitdeer Technologies Group from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 31st. Cantor Fitzgerald reissued an “overweight” rating on shares of Bitdeer Technologies Group in a research report on Monday, October 26th. Keefe, Bruyette & Woods reduced their price objective on shares of Bitdeer Technologies Group from $14.00 to $10.00 and set a “market perform” rating on the stock in a report on Thursday, August 13th. Finally, Weiss Ratings cut shares of Bitdeer Technologies Group from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Friday, October 2nd. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Bitdeer Technologies Group currently has a consensus rating of “Moderate Buy” and an average price target of $21.10.

Insider Activity at Bitdeer Technologies Group

In related news, insider Haris Basit bought 25,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average cost of $8.84 per share, with a total value of $221,000.00. Following the transaction, the insider directly owned 35,000 shares of the company’s stock, valued at approximately $309,400. This represents a 250.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Top Bitdeer Technologies Group Stories

Here are a few of the latest stories about BTDR:

• Positive Sentiment: Third-quarter revenue rose 89% year over year to $320.7 million, above the roughly $258 million analyst consensus. The company also reported $7.6 billion in expected contracted AI-platform revenue, highlighting potential beyond crypto mining. Bitdeer: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: Barclays and Needham lowered their price targets to $14 and $18, respectively, but kept their ratings at “overweight” and “buy.” The target cuts temper the positive ratings, while signaling the analysts still see upside potential.
• Negative Sentiment: Bitdeer reported a third-quarter loss of $0.46 per share, worse than the $0.33 loss analysts expected. Northland Securities also lowered its Q4 and full-year 2026 EPS estimates, reinforcing concerns that the company’s losses may persist despite strong sales growth. Bitdeer shares rise as Q3 revenue jumps 89% despite earnings miss

About Bitdeer Technologies Group

Bitdeer Technologies Group is a technology company focused on cryptocurrency mining and related infrastructure. Its business includes operating mining data centers, mining digital assets for its own account, and providing hosting services that allow customers to deploy and operate mining equipment. The company also develops and sells cryptocurrency mining machines and offers cloud hash rate services, which provide customers access to computing capacity for mining without requiring them to operate the equipment themselves.