Bitdeer made $320.7 million last quarter, an 89% jump from last year, thanks to Bitcoin mining and a $2.9 billion AI project.

Nov 10, 2026, 11:57 AM ETResultsRead the original at Benzinga

Neutral

Bitdeer grew mining and AI sales and reported a large AI backlog, but its loss widened and gross margin fell from 23.4% to 3.4%. The growth does not yet outweigh the profit squeeze and $1.95 billion in borrowings.

BTDR · Bitdeer Technologies Group

AI read · Neutral

The AI's read

Growth in mining and AI computing gives Bitdeer more ways to earn sales. But rising power and equipment costs left little profit from sales, and its loss grew. The AI contracts may bring more sales later, but the report does not show they have fixed the profit squeeze. Bitdeer also had $1.95 billion in borrowings against $213.7 million in cash.

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