Overview
- The company’s second-quarter report, released Monday, August 10, showed Bitdeer mined 2,694 BTC and generated $228.8 million in revenue while reporting a $92.3 million net loss.
- Self-mining capacity surged year over year with average self-mining hashrate near 69.5 EH/s, which produced $168.4 million of revenue and helped total managed hash rate reach about 86.1 EH/s and roughly 289,000 rigs under management.
- Bitdeer’s Tydal Data Center signed a 16-year, 121 MW colocation and services agreement with Volta on August 4 that the company projects will produce about $4.7 billion over the initial term and that will require roughly $500 million of additional capital to complete.
- The firm sold 943 BTC in February and finished the quarter holding 150 BTC while carrying about $1.8–$1.9 billion of borrowings and roughly $496 million of cash, facts that helped drive a roughly 19% drop in the stock on the earnings day.
- Beyond mining, Bitdeer is building AI colocation capacity and a SEALMINER components plant in Nevada to shorten supply chains, a push that mirrors peers’ moves into AI but raises the company’s near-term capital and operational risk.