SKN | Bitdeer Nearly Quintuples Bitcoin Mining Output in Q2 as AI Expansion Continues

Bitdeer Technologies Group mined 2,694 Bitcoin in the second quarter of 2026, nearly five times its production from a year earlier, while quarterly revenue increased 47% to $228.8 million. The company’s average self-mining hashrate jumped 389% to 69.5 exahashes per second, driving self-mining revenue to $168.4 million. Despite the stronger operating performance, Bitdeer ended the quarter with only 150 BTC after liquidating its entire 943 BTC treasury in February, while its net loss widened to $92.3 million.

Bitdeer Expands Bitcoin Mining Output

Bitdeer significantly increased its Bitcoin mining production during the second quarter of 2026, mining 2,694 BTC compared with 565 BTC during the same period a year earlier.

The increase represents nearly a fivefold improvement in production and reflects the company’s substantial expansion in self-mining capacity.

Bitdeer’s average self-mining hashrate increased 389% to 69.5 exahashes per second, allowing the company to generate substantially more Bitcoin during the quarter.

The stronger production performance also contributed to higher revenue from the company’s core mining operations.

Revenue Climbs 47%

Bitdeer reported $228.8 million in second-quarter revenue, representing a 47% increase from $155.6 million a year earlier.

Self-mining revenue accounted for $168.4 million of the quarterly total, making Bitcoin mining the company’s largest revenue contributor.

The company’s revenue slightly exceeded Wall Street’s consensus estimate of approximately $225 million, according to analyst estimates compiled by Yahoo Finance.

Bitdeer’s shares rose approximately 1.5% in premarket trading following the earnings report, although the stock had declined around 15% over the previous month.

Bitcoin Treasury Falls Sharply

Despite producing 2,694 BTC during the quarter, Bitdeer ended June with only 150 BTC on its balance sheet.

That represents a 90% decline from the 1,502 BTC held a year earlier.

The reduction follows Bitdeer’s decision to liquidate its entire 943 BTC treasury in February. The company attributed the decision to liquidity considerations rather than a strategic withdrawal from Bitcoin mining.

The relatively small Bitcoin balance compared with its quarterly production highlights the distinction between Bitdeer’s mining output and its approach to managing its corporate treasury.

Net Loss Widens Despite Higher Revenue

Bitdeer’s stronger revenue and mining production did not translate into improved bottom-line profitability.

The company reported a $92.3 million net loss for the quarter, compared with a $62.9 million loss a year earlier.

The widening loss underscores the financial pressures facing large-scale Bitcoin miners as they invest heavily in infrastructure and expand computing capacity.

Mining companies must balance rising production capacity and infrastructure investment against operating expenses, financing requirements and the volatility of cryptocurrency markets.

Bitdeer Expands Into AI Infrastructure

Bitdeer is also increasingly diversifying beyond Bitcoin mining through investments in artificial intelligence data centers and high-performance computing.

The company signed a 16-year lease valued at $4.7 billion for 121 megawatts of AI computing capacity in Norway, reflecting the growing trend among Bitcoin miners to repurpose or expand their infrastructure for AI-related workloads.

The strategy provides miners with another potential source of long-term revenue as demand for high-performance computing and AI infrastructure continues to increase.

For Bitdeer, the combination of Bitcoin mining and AI infrastructure represents a broader approach to maximizing the value of its energy and computing assets.

Closing Insights

Bitdeer’s second-quarter results demonstrate the significant increase in Bitcoin production that can result from rapid expansion in mining capacity. The nearly fivefold increase in output and 47% rise in revenue highlight stronger operational scale, but the wider net loss and sharply reduced Bitcoin treasury show that growth remains capital intensive. At the same time, Bitdeer’s expansion into AI infrastructure reflects a broader transformation across the mining industry, as companies increasingly seek to diversify their computing assets and revenue streams beyond Bitcoin.