Bitdeer Technologies Group BTDR R2K

Technology · Software - Application · Singapore

https://www.bitdeer.com

Bitdeer Technologies Group operates as a technology company for blockchain and high-performance computing (HPC) in Singapore, the United States, Bhutan, Norway, Finland, Ethiopia, and internationally. The company offers hash rate sharing solutions, including cloud hash rate and hash-rate subscription plans; and a one-stop mining rig hosting solution comprising deployment, maintenance, and management services for cryptocurrency mining; as well as mining cryptocurrencies for its own account. It also operates mining datacenters to generate hash rates; handles various processes involved in computing, such as equipment procurement, transport logistics, datacenter design and construction, equipment management, and daily operations; and sells mining rigs. In addition, the company offers Minerplus, a software platform that offers software support to reduce time needed for daily maintenance and mining rig upgrade; AI infrastructure and AI cloud business to offer advanced AI cloud capabilities, HPC services and colocation services; and mining solutions under the SEALMINER brand. The company is headquartered in Singapore.

Market & Price

Market Cap

$4.26B

Current Price

$17.49

High / Low (52W)

$25.90 / $7.28

Beta

2.32

Valuation

Stock P/E

Industry PE

32.74

Forward P/E

PEG Ratio

Book Value

$3.13

Price to Book

5.59

P/S

5.76

EV/EBITDA

12.66

Dividend Yield

Profitability & Returns

ROCE

13.25%

ROE

-26.14%

ROA

6.22%

Profit Margin

-26.96%

Op Margin

-43.35%

EPS (Latest Qtr)

$-0.68

EPS (TTM)

$-1.64

Balance Sheet & Liquidity

Debt/Equity

2.78

Quick Ratio

0.37

Current Ratio

1.85

Debt

$2.03B

Total Assets

$2.80B

Current Assets

$1.39B

Working Capital

$-134.01M

Ownership

Promoter Holding

33.79%

Chg in Prom Hold

FII / Inst Holding

56.85%

Chg in FII Hold

-0.00%

Financial Snapshot

Enterprise Value

$5.85B

Total Revenue (TTM)

$739.05M

EBITDA

$461.58M

Free Cash Flow

$-736.07M

Operating Cash Flow

$-1.80B

Shares Outstanding

198.91M

Gross Margin

3.51%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

23.00%

Profit 5Y

69.56%

Revenue (YoY)

169.40%

Earnings (YoY)

PROS

Compounding revenue at 23.0% over 5 years.
Profit CAGR of 69.6% over 5 years.

CONS

Trading 32.5% below its 52-week high.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Technology).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	BTDR Bitdeer Technologies Group R2K	17.49	-	$4.26B	-	13.25%	-26.14%	23.00%	69.56%
2	NVDA NVIDIA Corporation NDXSPXAI	211.14	32.38	$5.11T	0.47%	81.14%	114.29%	100.05%	201.80%
3	AAPL Apple Inc. NDXSPX	312.06	37.73	$4.58T	0.35%	68.72%	141.47%	1.81%	3.92%
4	MSFT Microsoft Corporation NDXSPXAI	450.24	26.82	$3.34T	0.81%	26.37%	34.01%	12.42%	11.87%
5	TSM Taiwan Semiconductor Manufacturing Company Limited AI	418.45	35.86	$2.17T	0.91%	32.04%	36.21%	18.94%	19.57%
6	MU Micron Technology, Inc. NDXSPXAI	971.00	45.87	$1.10T	0.06%	14.20%	39.82%	6.71%	-0.57%
7	AMD Advanced Micro Devices, Inc. NDXSPXAI	516.10	172.61	$841.55B	-	6.33%	8.06%	13.64%	48.64%
8	ORCL Oracle Corporation SPXAI	225.78	40.46	$649.35B	0.89%	13.07%	57.57%	10.59%	22.81%
9	ASML ASML Holding N.V. NDXAI	1,612.76	53.76	$621.59B	0.54%	43.81%	52.24%	15.55%	19.55%

Quarterly Results

Figures in USD.

Metric	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	70.13M	155.58M	169.71M	224.84M	188.93M
Cost of Revenue	-	74.10M	142.76M	128.88M	214.26M	227.97M
Gross Profit	-	-3.97M	12.82M	40.83M	10.57M	-39.04M
Operating Expenses	-	94.50M	37.72M	33.97M	89.40M	66.89M
Operating Income	-	-98.47M	-24.90M	6.86M	-78.83M	-105.93M
EBITDA	-	103.99M	376.30M	6.86M	275.90M	-133.43M
Interest Expense	-	5.29M	-	-	-	29.52M
Pretax Income	-	98.70M	-147.93M	-261.05M	72.92M	-162.94M
Tax Provision	-	-6.61M	-197.00K	5.63M	2.37M	-3.41M
Net Income	-	105.31M	-147.73M	-266.69M	70.54M	-159.53M
Diluted EPS	-	-0.47	-0.76	-1.28	-0.73	-0.68

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	333.34M	368.55M	349.78M	620.25M
Cost of Revenue	-	250.09M	290.75M	283.38M	559.26M
Gross Profit	-	83.25M	77.81M	66.40M	60.99M
Operating Expenses	-	140.52M	134.03M	155.77M	245.56M
Operating Income	-	-57.27M	-56.22M	-89.37M	-184.57M
EBITDA	-	6.86M	29.65M	-502.58M	338.28M
Interest Expense	-	5.20M	5.08M	17.92M	99.33M
Pretax Income	-	-64.77M	-50.97M	-601.59M	70.83M
Tax Provision	-	-4.40M	5.68M	-2.44M	5.23M
Net Income	-	-60.37M	-56.66M	-599.15M	65.60M
Diluted EPS	-	-0.54	-0.51	-4.36	-1.43

Compounded Sales Growth

5 Years:	23.00%
1 Year:	169.40%

Compounded Profit Growth

5 Years:	69.56%
1 Year:	-

Stock Price Performance

1 Year:	+36.00%
6 Months:	+46.73%
3 Months:	+127.14%
1 Month:	+61.50%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	651.41M	639.39M	1.56B	2.80B
Current Assets	-	319.56M	260.32M	949.45M	1.39B
Cash & Equivalents	-	231.36M	144.73M	476.27M	149.35M
Inventory	-	-	346.00K	64.89M	252.00M
Receivables	-	18.38M	17.28M	9.63M	31.37M
Total Liabilities	-	333.07M	306.82M	1.28B	1.94B
Current Liabilities	-	221.21M	121.18M	1.10B	1.52B
Long Term Debt	29.46M	29.80M	22.62M	-	247.30M
Total Debt	-	100.23M	92.83M	286.26M	1.10B
Total Equity	-	318.34M	332.57M	276.60M	867.85M
Shares Outstanding	-	111.25M	112.57M	192.46M	238.92M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	-	-268.04M	-271.79M	-622.07M	-1.74B
Investing Cash Flow	-	133.79M	199.85M	112.70M	38.86M
Financing Cash Flow	-	-3.88M	-13.49M	844.27M	1.37B
Capital Expenditure	-	-63.20M	-126.35M	-127.22M	-289.56M
Free Cash Flow	-	-331.24M	-398.13M	-749.29M	-2.03B
Net Change in Cash	-	-138.13M	-85.43M	334.89M	-330.82M

Ratios (Annual)

Figures in %.

Metric	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	25.0%	21.1%	19.0%	9.8%
Operating Margin %	-	-17.2%	-15.3%	-25.6%	-29.8%
Net Margin %	-	-18.1%	-15.4%	-171.3%	10.6%
ROE %	-	-19.0%	-17.0%	-216.6%	7.6%
ROCE %	-	-13.3%	-10.8%	-19.5%	-14.4%

Shareholding Pattern

Insiders

33.79%

Institutions

56.85%

Public Float

85.86%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Sachem Head Capital Management, LP	8.66%	9.63M	$168.52M
2	Fund Resources Investment Holding Group Co Ltd	8.48%	9.44M	$165.11M
3	Blackrock Inc.	8.09%	9.00M	$157.46M
4	UBS Group AG	4.12%	4.59M	$80.22M
5	Barclays Plc	3.94%	4.39M	$76.73M
6	Value Aligned Research Advisors, LLC	3.64%	4.05M	$70.77M
7	State Street Corporation	3.22%	3.58M	$62.60M
8	Situational Awareness Partners LP	3.09%	3.44M	$60.16M
9	Situational Awareness LP	3.09%	3.44M	$60.16M
10	Azora Capital Lp	3.01%	3.35M	$58.55M

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