Bitdeer’s Bitcoin Mining Output Jumps Nearly Fivefold in Second Quarter

Bitdeer mined 2,694 Bitcoin during the second quarter, a sharp increase from 565 BTC produced during the same period last year. Despite the strong mining growth, the company ended the quarter holding just 150 BTC on its balance sheet, a steep drop from over 1,500 BTC a year earlier, after the firm sold off its entire Bitcoin treasury in February for liquidity reasons rather than as a strategic shift away from mining.

Revenue Climbs Alongside AI Expansion

The company reported quarterly revenue of $228.8 million, up sharply from the prior year, with self-mining activity contributing the bulk of that total as average hashrate nearly quintupled. Bitdeer continues expanding beyond core mining into artificial intelligence infrastructure, recently signing a multibillion-dollar, long-term lease for AI computing capacity in Norway, joining other mining firms diversifying into high-performance computing.

Mixed Financial Picture

While revenue slightly exceeded analyst expectations, Bitdeer’s net loss widened compared to the same quarter last year. Shares rose modestly in premarket trading following the report, though the stock had declined over the past month.