Key facts
- Bitdeer mined 2,694 BTC in Q2 2026, a nearly fivefold increase year-over-year.
- The company held 150 BTC at the end of Q2, down 90% from the prior year.
- Bitdeer liquidated its 943 BTC treasury in February.
- Q2 revenue rose 47% to $228.8 million.
- Net loss widened to $92.3 million.
Bitdeer mined 2,694 Bitcoin in the second quarter of 2026, marking a nearly fivefold increase from 565 BTC mined in the same period a year earlier. Despite the surge in production, the company concluded the quarter holding just 150 BTC on its balance sheet, a significant decrease from the 1,502 BTC held a year ago. This reduction is attributed to Bitdeer's liquidation of its entire 943 BTC treasury in February, a move the company stated was for liquidity purposes rather than a departure from its core mining operations.
Financially, Bitdeer reported $228.8 million in Q2 revenue, a 47% increase from the previous year, slightly surpassing Wall Street's consensus estimate of $225 million. Self-mining revenue contributed $168.4 million to the total, driven by a 389% jump in average self-mining hashrate to 69.5 exahashes per second. However, the company's net loss widened to $92.3 million from $62.9 million in the prior year's second quarter.
In strategic expansion, Bitdeer is diversifying into AI data centers and high-performance computing. The company recently signed a 16-year lease valued at $4.7 billion for 121 megawatts of AI computing capacity in Norway.