Bitdeer Technologies Group (NASDAQ:BTDR – Get Free Report) announced 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. The company had revenue of $188.93 million for the quarter, compared to analysts’ expectations of $184.75 million. Bitdeer Technologies Group had a net margin of 10.58% and a return on equity of 8.92%. The firm’s quarterly revenue was up 169.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.37) earnings per share.
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 Stock Down 10.3%
BTDR traded down $1.52 during trading on Friday, hitting $13.23. The company had a trading volume of 4,429,278 shares, compared to its average volume of 7,617,424. Bitdeer Technologies Group has a 1-year low of $6.92 and a 1-year high of $27.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.91 and a quick ratio of 0.75. The company has a market cap of $3.12 billion, a PE ratio of -4.21 and a beta of 2.32. The business has a 50-day moving average of $10.36 and a 200-day moving average of $11.99.
More Bitdeer Technologies Group News
- Positive Sentiment: Needham raised its price target on Bitdeer Technologies Group (BTDR) to $19 from $18 and kept a buy rating, signaling continued confidence in the company’s growth outlook.
- Positive Sentiment: Rosenblatt Securities lifted its target to $25 from $18 and reiterated a buy rating, pointing to much higher upside potential after the Q1 update.
- Positive Sentiment: Cantor Fitzgerald increased its target to $15 from $11, maintaining a neutral rating, reflecting improved expectations even though the stock still faces execution risks.
- Neutral Sentiment: Market commentary highlighted record Bitcoin mining-related activity and strong revenue growth, but also noted cost pressures and an earnings miss that keep sentiment mixed.
- Negative Sentiment: Bitdeer’s Q1 loss was wider than expected, which may limit enthusiasm until the company shows clearer progress toward sustained profitability.
Institutional Investors Weigh In On Bitdeer Technologies Group
Institutional investors have recently modified their holdings of the stock. Boothbay Fund Management LLC bought a new stake in Bitdeer Technologies Group in the second quarter valued at about $332,000. New York State Common Retirement Fund bought a new position in Bitdeer Technologies Group during the 2nd quarter worth approximately $326,000. Los Angeles Capital Management LLC acquired a new position in shares of Bitdeer Technologies Group in the 4th quarter worth approximately $299,000. Public Employees Retirement System of Ohio increased its holdings in shares of Bitdeer Technologies Group by 14.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 23,900 shares of the company’s stock valued at $268,000 after acquiring an additional 3,100 shares during the last quarter. Finally, Sei Investments Co. bought a new stake in shares of Bitdeer Technologies Group in the 3rd quarter valued at approximately $266,000. Institutional investors and hedge funds own 22.25% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the company. UBS Group reissued a “buy” rating on shares of Bitdeer Technologies Group in a research report on Thursday, February 12th. Rosenblatt Securities lifted their price objective on Bitdeer Technologies Group from $18.00 to $25.00 and gave the company a “buy” rating in a research note on Friday. Zacks Research downgraded shares of Bitdeer Technologies Group from a “hold” rating to a “strong sell” rating in a research report on Monday, March 16th. Benchmark cut their price target on shares of Bitdeer Technologies Group from $38.00 to $27.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $14.00 price target (down from $26.50) on shares of Bitdeer Technologies Group in a research report on Tuesday, January 27th. Nine 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.50.
Read Our Latest Stock Analysis on BTDR
Bitdeer Technologies Group Company Profile
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.
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