Bitdeer Technologies Group Q1 Earnings Call Highlights Bitdeer Technologies Group logo MarketBeat May 14, 2026 8 min read BTC-USD BTDR Key Points Interested in Bitdeer Technologies Group? Here are five stocks we like better. Revenue surged in Q1 2026 to $188.9 million, up about 170% year over year, driven mainly by a sharp increase in Bitcoin mining output.
Adjusted EBITDA also improved to $14.4 million, though revenue fell sequentially from Q4 due to lower Bitcoin prices and more output being used for internal mining deployment. Despite the strong top-line growth, Bitdeer reported a gross loss of $39 million as Bitcoin price pressure, $70 million of non-cash depreciation, and seasonal power costs weighed on margins. The company also posted an operating loss of $159.5 million and ended the quarter with $297.7 million in cash equivalents and restricted cash.
Management is pushing aggressively into AI cloud and data center colocation, with major projects in Norway, Ohio, and Texas. AI cloud annual recurring revenue climbed to about $69 million in April, while self-mining hash rate rose to about 65 EH/s and April Bitcoin production increased to 783 BTC. 4 Blockchain Stocks That Aren't Coinbase Bitdeer Technologies Group (NASDAQ:BTDR) reported sharply higher first-quarter revenue as its Bitcoin mining output expanded, while management emphasized a broader push into AI cloud services and large-scale data center colocation. On the company's first-quarter 2026 earnings call, Chief Strategy Officer Haris Basit said Bitdeer's vertically integrated platform advanced across four strategic businesses: Bitcoin mining, ASIC development, AI cloud and colocation data center infrastructure.
He said the company's Bitcoin mining production grew nearly 500% year over year, while its AI cloud business posted rapid growth in annual recurring revenue. → Rocket Lab Just Hit a New All-Time High—Time to Buy or Let It Breathe? Beyond the Halving: The Future of Bitcoin Mining Stocks Bitdeer reported first-quarter revenue of $188.9 million, up approximately 170% from the prior-year period. Adjusted EBITDA was $14.4 million, an improvement of about $60 million year over year.
Pretesh Dahya, senior director and head of investor relations, said the revenue increase was driven primarily by "the significant expansion of our mining hash rate and associated Bitcoin production." Sequentially, revenue declined from $224.8 million in the fourth quarter of 2025, which Dahya attributed to lower average Bitcoin prices and a larger share of manufacturing output going toward internal mining deployment rather than external SEALMINER sales. Margins Pressured by Bitcoin Prices, Depreciation and Power Costs Story Continues → MP Materials Is Quietly Building a Rare Earth Powerhouse Bitdeer posted a gross loss of $39 million in the quarter, equal to a negative gross margin of 20.7%. Dahya said three factors drove the result: pressure on Bitcoin prices, $70 million of non-cash depreciation expense tied to the company's expanded mining fleet, and seasonal power cost dynamics at facilities in Norway and Bhutan.
"Looking ahead, the path to gross margin recovery is straightforward," Dahya said, citing A4 series deployment, lower electricity costs as spring and summer rates normalize, and higher AI cloud revenue as potential drivers. → Micron Investors Face a High-Stakes Moment After the Latest Rally The company reported an operating loss of $159.5 million and a loss per share of $0.68. Net cash used in operating activities was $346.9 million, down 42% from $594.7 million in the fourth quarter of 2025. Bitdeer ended the quarter with $297.7 million in cash equivalents and restricted cash, compared with $177.9 million at the end of 2025.
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