Bitdeer Technologies Group (NASDAQ:BTDR) Announces Quarterly Earnings Results

Bitdeer Technologies Group (NASDAQ:BTDR) released its quarterly earnings data on Thursday. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.21), FiscalAI reports. Bitdeer Technologies Group had a net margin of 10.58% and a return on equity of 8.92%. The company had revenue of $188.93 million during the quarter, compared to analyst estimates of $184.02 million. During the same quarter in the prior year, the company earned ($0.37) EPS. The business’s revenue was up 169.5% on a year-over-year basis.

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

• Bitdeer posted strong top-line growth in Q1 2026, with revenue up about 170% year over year to $188.9 million and Adjusted EBITDA increasing to $14.4 million.
• Profitability remained pressured as gross profit was negative $39 million, reflecting lower Bitcoin prices, $70 million of mining-rig depreciation, and seasonal power costs in Norway and Bhutan.
• AI cloud momentum accelerated sharply, with ARR rising from about $10 million in January to $43 million at quarter-end and reaching roughly $69 million in April, while GPU utilization climbed to 94%.
• Tydal, Norway remains the key colocation opportunity, with a formal development agreement in place, 180 MW planned, and management saying a lease is in advanced negotiations for what could become Norway’s largest AI data center.
• The company strengthened liquidity and its strategic buildout plans by raising $375 million in convertible notes, ending Q1 with about $298 million in cash and restricted cash, and reiterating 2026 infrastructure CapEx guidance of $180 million to $200 million for crypto mining data centers.

Bitdeer Technologies Group Price Performance

Bitdeer Technologies Group stock traded up $1.53 during midday trading on Thursday, reaching $14.75. The company’s stock had a trading volume of 14,106,896 shares, compared to its average volume of 6,647,337. Bitdeer Technologies Group has a fifty-two week low of $6.92 and a fifty-two week high of $27.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.75 and a current ratio of 0.91. The stock’s 50 day simple moving average is $10.36 and its 200 day simple moving average is $11.99. The firm has a market capitalization of $3.47 billion, a PE ratio of -4.70 and a beta of 2.32.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BTDR shares. HC Wainwright decreased their price objective on Bitdeer Technologies Group from $30.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Wall Street Zen downgraded Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd. Zacks Research downgraded Bitdeer Technologies Group from a “hold” rating to a “strong sell” rating in a report on Monday, March 16th. Needham & Company LLC decreased their price objective on Bitdeer Technologies Group from $30.00 to $22.00 and set a “buy” rating for the company in a report on Friday, February 13th. Finally, Cantor Fitzgerald downgraded shares of Bitdeer Technologies Group from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $20.00 to $10.00 in a research note on Thursday, April 9th. Nine equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $24.20.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its position in shares of Bitdeer Technologies Group by 67.5% during the 2nd quarter. Bank of America Corp DE now owns 6,337,339 shares of the company’s stock worth $72,753,000 after purchasing an additional 2,553,093 shares during the last quarter. Value Aligned Research Advisors LLC boosted its stake in shares of Bitdeer Technologies Group by 137.0% during the fourth quarter. Value Aligned Research Advisors LLC now owns 3,267,614 shares of the company’s stock valued at $36,630,000 after acquiring an additional 1,888,825 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Bitdeer Technologies Group by 100.1% during the fourth quarter. Van ECK Associates Corp now owns 1,694,193 shares of the company’s stock valued at $18,992,000 after acquiring an additional 847,486 shares during the last quarter. State Street Corp raised its stake in Bitdeer Technologies Group by 34.1% in the 4th quarter. State Street Corp now owns 3,144,782 shares of the company’s stock valued at $35,253,000 after purchasing an additional 800,003 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Bitdeer Technologies Group by 5,771.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 757,864 shares of the company’s stock valued at $8,700,000 after purchasing an additional 744,956 shares during the last quarter. 22.25% of the stock is currently owned by institutional investors and hedge funds.

About Bitdeer Technologies Group

Bitdeer Technologies Group Inc (NASDAQ:BTDR) is a global digital asset mining and computing services provider focused on delivering secure and efficient hashrate solutions to institutional and retail customers. The company leverages its proprietary mining platform to offer hosted mining, hashrate sales and management services, enabling clients to access large-scale mining operations without direct investment in hardware or infrastructure.

Bitdeer’s core offerings include mining hosting services, whereby the firm installs, operates and maintains specialized mining equipment on behalf of customers, and hashrate-as-a-service products that provide fixed-capacity mining power with transparent pricing structures.