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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.
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 | |