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Equiscale · Syntellia LLC
Bitdeer Technologies Group operates as a technology company for blockchain and high-performance computing (HPC) in Singapore, the United States, Bhutan, and Norway. The company offers hash rate sharing solutions, including Cloud hash rate and Hash rate marketplace; and a one-stop mining rig hosting solutions comprising deployment, maintenance, and management services for cryptocurrency mining; as well as mines cryptocurrencies for its own account. It also operates mining datacenters to generate hash rate; 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; and mining solutions under the SEALMINER brand. The company is headquartered in Singapore.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $620M | $338M | $66M | $-2.0B | 7.6% | 77.3% | -110.9% |
| 2024 | $350M | $-503M | $-599M | $-749M | -216.6% | -5.1% | 957.5% |
| 2023 | $369M | $30M | $-57M | $-398M | -17.0% | 10.6% | -6.1% |
| 2022 | $333M | $7M | $-60M | $-331M | -19.0% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 333.34 | 368.55 | 349.78 | 620.25 |
| Operating Revenue | - | 333.34 | 368.55 | 349.78 | 620.25 |
| Cost Of Revenue | - | 250.09 | 290.74 | 283.38 | 559.26 |
| Gross Profit | - | 83.25 | 77.81 | 66.40 | 60.99 |
| Operating Expense | - | 140.52 | 134.03 | 155.77 | 245.56 |
| Research And Development | - | 35.43 | 29.53 | 76.95 | 153.88 |
| Selling General And Administration | - | 105.14 | 74.70 | 72.36 | 91.08 |
| Total Expenses | - | 390.61 | 424.78 | 439.15 | 804.82 |
| Operating Income | - | -57.27 | -56.22 | -89.37 | -184.57 |
| Total Operating Income As Reported | - | -60.58 | -52.25 | -589.66 | 159.72 |
| EBITDA | - | 6.86 | 29.65 | -502.58 | 338.28 |
| Normalized EBITDA | - | 13.34 | 26.18 | -0.59 | -6.92 |
| EBIT | - | -59.56 | -45.89 | -583.67 | 170.16 |
| Interest Income | - | 4.29 | 7.95 | 7.87 | 7.60 |
| Interest Expense | - | 5.20 | 5.08 | 17.92 | 99.33 |
| Net Interest Income | - | -1.30 | 2.29 | -10.35 | -92.33 |
| Other Non Operating Income Expenses | - | 0.28 | -0.51 | 0.12 | 2.53 |
| Other Income Expense | - | -6.19 | 2.96 | -501.87 | 347.73 |
| Interest Income Non Operating | - | 4.29 | 7.95 | 7.87 | 7.60 |
| Interest Expense Non Operating | - | 5.20 | 5.08 | 17.92 | 99.33 |
| Net Non Operating Interest Income Expense | - | -1.30 | 2.29 | -10.35 | -92.33 |
| Pretax Income | - | -64.77 | -50.97 | -601.59 | 70.83 |
| Tax Provision | - | -4.40 | 5.68 | -2.44 | 5.23 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.44 | 0.73 | -2.06 | 25.51 |
| Net Income Continuous Operations | - | -60.37 | -56.66 | -599.15 | 65.60 |
| Net Income From Continuing And Discontinued Operation | - | -60.37 | -56.66 | -599.15 | 65.60 |
| Net Income From Continuing Operation Net Minority Interest | - | -60.37 | -56.66 | -599.15 | 65.60 |
| Net Income | - | -60.37 | -56.66 | -599.15 | 65.60 |
| Net Income Common Stockholders | - | -60.37 | -56.66 | -599.15 | 65.60 |
| Net Income Including Noncontrolling Interests | - | -60.37 | -56.66 | -599.15 | 65.60 |
| Normalized Income | - | -54.33 | -59.39 | -99.22 | -254.09 |
| Diluted NI Availto Com Stockholders | - | -60.37 | -56.66 | -599.15 | -336.18 |
| Basic Average Shares | - | 111.29 | 110.49 | 137.43 | 204.68 |
| Diluted Average Shares | - | 111.29 | 110.49 | 137.43 | 234.32 |
| Reconciled Depreciation | - | 66.42 | 75.54 | 81.10 | 168.12 |
| Reconciled Cost Of Revenue | - | 250.09 | 290.74 | 283.38 | 559.26 |
| Total Unusual Items | - | -6.48 | 3.47 | -501.99 | 345.20 |
| Total Unusual Items Excluding Goodwill | - | -6.48 | 3.47 | -501.99 | 345.20 |
| Special Income Charges | - | -2.97 | 0.96 | -4.21 | -69.19 |
| Other Special Charges | -0.88 | - | -0.48 | 8.37 | 60.34 |
| Write Off | - | 0 | 0 | 0.94 | 5.04 |
| Impairment Of Capital Assets | 0 | 0 | 0 | - | 13.41 |
| Restructuring And Mergern Acquisition | - | 0 | 0 | 3.19 | 0 |
| Gain On Sale Of Security | - | -3.51 | 2.51 | -497.78 | 414.39 |
| General And Administrative Expense | - | 93.45 | 66.45 | 64.32 | 84.42 |
| Other Gand A | - | 93.45 | 66.45 | 64.32 | 84.42 |
| Gain On Sale Of Ppe | - | -2.97 | 0.48 | 8.28 | 9.60 |
| Total Other Finance Cost | - | 0.39 | 0.58 | 0.30 | 0.60 |
| Other Operating Expenses | - | -0.04 | 29.80 | 6.46 | 0.60 |
| Selling And Marketing Expense | - | 11.68 | 8.25 | 8.04 | 6.67 |
| Average Dilution Earnings | 1.22 | 0 | 0 | - | -401.78 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Bitdeer Technologies Groupthis co. | BTDR | $4.8B | 72.81↑ premium | 5.50 | 7.6% | 16.93 |
| Navan, Inc. | NAVN | $5.6B | -14.12 | 4.65 | -32.9% | -18.33 |
| Synaptics Incorporated | SYNA | $5.5B | -114.05 | 3.91 | -3.4% | 85.59 |
| Commvault Systems, Inc. | CVLT | $5.0B | 70.96 | 669.07 | 942.8% | 47.35 |
| Belden Inc. | BDC | $4.3B |
| - |
| - |
| - |
| - |
| - |
| - |
| 18.15 |
| 3.41 |
| 18.8% |
| 12.03 |
| nLIGHT, Inc. | LASR | $4.2B | -180.02 | 18.63 | -10.3% | -560.38 |
| Remitly Global, Inc. | RELY | $4.2B | 61.40 | 4.80 | 7.8% | 30.32 |
| Innodata Inc. | INOD | $4.0B | 123.29 | 37.03 | 30.0% | 83.18 |
| Bel Fuse Inc. | BELFB | $3.9B | 63.91 | 9.24 | 14.5% | 30.04 |
| Peer Median | - | 39.78 | 7.02 | 11.1% | 30.18 | |
Year-to-date return is calculated by dividing each day’s closing price by the price on January 1st of that year (or the asset’s first available price if it began trading mid-year). The custom average line shows the mean YTD return at each calendar day across the selected years. The standard deviation band shows the range within which returns have historically fallen — at 1 SD, roughly two-thirds of years; at 2 SD, roughly 95%. Past year-to-date patterns do not predict future returns. The average and standard deviation band are computed from the year set chosen in “Average from”, which is independent of which year lines are displayed. The current in-progress year is excluded from these calculations, since a partial year is not comparable to complete ones. Election-cycle groupings follow the US presidential calendar and are offered only for US and crypto assets.
Historically, Jun has averaged the highest return (+35.0%); Feb the lowest (-18.4%).
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +16.3%Positive MonthJan 2026: +16.32% | -41.0%Negative MonthFeb 2026: -40.95% | +12.3%Positive MonthMar 2026: +12.34% | +30.5%Positive MonthApr 2026: +30.52% | +54.9%Positive MonthMay 2026: +54.92% | -9.3%Negative MonthJun 2026: -9.26% | -33.7%Negative MonthJul 2026: -33.71% | -8.5%*Negative MonthAug 2026: -8.46% | — | — | — | — |
| 2025 | -14.5%Negative MonthJan 2025: -14.54% | -33.5%Negative MonthFeb 2025: -33.53% | -28.3%Negative MonthMar 2025: -28.27% | +8.4%Positive MonthApr 2025: +8.38% | +34.4%Positive MonthMay 2025: +34.38% | -10.7%Negative MonthJun 2025: -10.73% | +12.3%Positive MonthJul 2025: +12.28% | +10.9%Positive MonthAug 2025: +10.86% | +19.6%Positive MonthSep 2025: +19.59% | +29.9%Positive MonthOct 2025: +29.90% | -39.6%Negative MonthNov 2025: -39.59% | -16.4%Negative MonthDec 2025: -16.41% |
| 2024 | -16.9%Negative MonthJan 2024: -16.94% | -19.2%Negative MonthFeb 2024: -19.17% | +6.0%Positive MonthMar 2024: +6.04% | -21.8%Negative MonthApr 2024: -21.79% | +11.7%Positive MonthMay 2024: +11.66% | +67.4%Positive MonthJun 2024: +67.37% | -11.5%Negative MonthJul 2024: -11.50% | -28.0%Negative MonthAug 2024: -27.97% | +19.7%Positive MonthSep 2024: +19.72% | -0.5%Neutral MonthOct 2024: -0.51% | +83.2%Positive MonthNov 2024: +83.18% | +51.9%Positive MonthDec 2024: +51.86% |
| 2023 | +1.1%Neutral MonthJan 2023: +1.06% | +1.1%Neutral MonthFeb 2023: +1.14% | +1.9%Neutral MonthMar 2023: +1.88% | -30.9%Negative MonthApr 2023: -30.88% | -34.4%Negative MonthMay 2023: -34.40% | +127.6%Positive MonthJun 2023: +127.64% | -7.0%Negative MonthJul 2023: -6.96% | +30.0%Positive MonthAug 2023: +30.04% | -28.9%Negative MonthSep 2023: -28.86% | -61.2%Negative MonthOct 2023: -61.20% | +20.3%Positive MonthNov 2023: +20.32% | +119.1%Positive MonthDec 2023: +119.11% |
| 2022 | +0.0%Neutral MonthJan 2022: +0.00% | +0.5%Neutral MonthFeb 2022: +0.50% | +0.5%Neutral MonthMar 2022: +0.50% | +0.2%Neutral MonthApr 2022: +0.20% | +0.2%Neutral MonthMay 2022: +0.20% | +0.1%Neutral MonthJun 2022: +0.10% | +0.5%Neutral MonthJul 2022: +0.49% | +0.6%Neutral MonthAug 2022: +0.59% | +0.5%Neutral MonthSep 2022: +0.49% | +0.2%Neutral MonthOct 2022: +0.19% | +0.5%Neutral MonthNov 2022: +0.49% | +0.8%Neutral MonthDec 2022: +0.77% |
| 2021 | — | — | — | — | — | — | — | +1.6%Neutral MonthAug 2021: +1.65% | +0.3%Neutral MonthSep 2021: +0.30% | +0.2%Neutral MonthOct 2021: +0.20% | +3.2%Positive MonthNov 2021: +3.23% | -2.7%Negative MonthDec 2021: -2.73% |
| Avg±SD |
Each cell is the percentage change in closing price from the end of the prior month to the end of this month. The bottom row shows the average return for that calendar month across the selected years, plus or minus one standard deviation — the range that historically contained roughly two-thirds of outcomes. Past monthly patterns are not a forecast of future returns.
This aggregates every month by calendar position — all Januaries together, all Februaries together, and so on — to show whether a given month has leaned positive or negative historically. ‘Simple’ counts each month as +1 or −1. ‘Weighted’ gives larger moves more influence: +2 above +10%, −2 below −10%. With only 6 years of history for this asset, each month’s score reflects a small number of observations — read it as a historical tendency, not a reliable seasonal pattern.
This tracks a running tally across the asset’s full price history: each month adds or subtracts based on whether it was positive or negative. A rising line means more positive months than negative so far; a flattening or falling line means recent months have leaned negative. This measures historical month-to-month consistency, not expected future performance.
