Bitdeer Technologies Group (BTDR) Stock Price & How to Invest
Short answer
Bitdeer (BTDR) is a vertically integrated bitcoin miner that designs its own SEALMINER ASIC chips and is pivoting spare data center capacity into AI cloud, so buying it is a leveraged bet on both bitcoin economics and an unproven high-performance-computing transition. It trades like a high-growth, deeply loss-making infrastructure story rather than a stable cash generator.
BTDR stock price
As of 2026-07-08, Bitdeer Technologies Group (BTDR) last closed at $12.56, down 3.2% over the past year. Over the past 52 weeks it has traded between $7.28 and $25.90.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Bitdeer Technologies Group's investor relations page. Walnut is informational, not investment advice.
What does Bitdeer Technologies Group (BTDR) do?
Bitdeer Technologies Group, listed on Nasdaq as BTDR, is a Singapore-headquartered digital-asset and high-performance-computing company founded by Bitmain co-founder Jihan Wu. Its core business is self-mining bitcoin at scale, and it is unusual among miners in that it designs its own proprietary SEALMINER ASIC mining hardware rather than only buying rigs from third parties. Alongside self-mining, Bitdeer runs cloud hosting and mining-tool services, and it is redirecting part of its global data center fleet toward an AI cloud (GPU compute) business, which reached roughly $69 million of annualized recurring revenue by April 2026.
The investment picture is one of rapid top-line growth paired with deep losses and heavy financing needs. Revenue was about $188.9 million in Q1 2026, up roughly 169% year over year, driven by average self-mining hashrate rising about 551% to around 63.2 EH/s as SEALMINER rigs were deployed, yet the company reported a net loss of about $159.5 million for the quarter. Bitdeer has funded its expansion through more than $1.5 billion of convertible notes issued between 2024 and 2026 and equity sales, and it sold its bitcoin treasury to help fund the AI pivot, so the stock behaves as a leveraged play on bitcoin, chip execution, and capital-markets access rather than on current profits.
What's driving Bitdeer Technologies Group (BTDR)?
1. Proprietary SEALMINER hardware
Unlike most listed miners, Bitdeer designs and manufactures its own ASIC chips through the SEALMINER program. Controlling the hardware stack can lower per-terahash costs and lets Bitdeer sell rigs to others, though it also means the company carries chip-development and manufacturing execution risk that pure hosting operators avoid.
2. Self-mining scale
Average self-mining hashrate climbed to roughly 63.2 EH/s in Q1 2026 from about 9.7 EH/s a year earlier, putting Bitdeer among the largest publicly traded self-miners by proprietary hashrate. Self-mining generated about $146.9 million of the quarter's revenue, so the company's fortunes are tightly linked to bitcoin's price and network difficulty.
3. AI cloud pivot
Bitdeer is converting some data center capacity into AI and high-performance-computing cloud services, reaching roughly $69 million of annualized recurring revenue by April 2026. If AI compute demand holds, this could diversify revenue away from volatile mining, but the segment is early and competes against far larger, better-capitalized cloud providers.
4. Vertical integration and hosting
The business spans self-mining, cloud hosting, and mining tools, which can smooth some volatility and create multiple revenue lines. This integrated model is a differentiator versus single-line miners, though it also spreads capital and management attention across several capital-intensive activities at once.
What are the risks to Bitdeer Technologies Group (BTDR)?
Bitdeer is deeply unprofitable, posting a net loss of about $159.5 million in Q1 2026 even as revenue grew, and it has funded growth with more than $1.5 billion of convertible notes plus equity raises, creating meaningful dilution risk (a $325 million 2032 convertible offering in February 2026 triggered a double-digit stock drop on dilution fears). Revenue and margins are highly sensitive to bitcoin prices, network difficulty, and the roughly four-year halving cycle, all outside the company's control. The AI cloud pivot is unproven at scale and faces entrenched, better-funded competitors. Selling its bitcoin treasury removed a balance-sheet cushion, and negative operating and free cash flow mean the company remains dependent on continued access to capital markets.
How is Bitdeer Technologies Group (BTDR) valued? (approximate, JUNE 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Bitdeer Technologies Group's investor relations page or your broker.
- Revenue (TTM): ~$620M
- Revenue (Q1 2026): ~$188.9M
- Revenue growth (YoY, Q1): ~+169%
- Net loss (Q1 2026): ~-$159.5M
- Market cap: ~$3.2B
- Cash and restricted cash: ~$297.7M
BTDR trades at roughly 5 times trailing revenue while running large net losses and negative free cash flow, so conventional earnings multiples do not apply and the market is pricing growth and optionality. The company held about $297.7 million of cash and restricted cash at quarter end but sold its bitcoin treasury and carries substantial convertible debt. Figures are approximate and as of June 2026.
Who competes with Bitdeer Technologies Group (BTDR)?
Large listed bitcoin miners
MARA Holdings (MARA), Riot Platforms (RIOT), and CleanSpark (CLSK) compete directly for hashrate share and low-cost power. Bitdeer's roughly 63 EH/s self-mining scale places it among the largest, and its in-house ASIC design distinguishes it from peers that buy rigs from third-party vendors.
Miners pivoting to AI and HPC
IREN (IREN) and Bitfarms are repositioning data center capacity toward AI and high-performance computing, the same pivot Bitdeer is pursuing. These names compete for GPU demand, power, and investor narrative around miners becoming compute providers.
ASIC hardware makers
Because Bitdeer sells its own SEALMINER rigs, it also overlaps with mining-hardware suppliers such as Bitmain and MicroBT. This puts it in competition with established chip manufacturers as both a customer alternative and a rival vendor.
How to invest in Bitdeer Technologies Group (BTDR)
There are three common ways to get BTDR exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so BTDR sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where BTDR fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
The bottom line on Bitdeer Technologies Group (BTDR)
BTDR is a fast-growing but still heavily loss-making bitcoin-and-AI infrastructure company whose value hinges on bitcoin prices, its own chip roadmap, and how well its AI cloud pivot actually converts.
More on Bitdeer Technologies Group (BTDR)
Whether BTDR is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is BTDR a buy?, and where the stock could go from here in the BTDR stock forecast.
For income investors, whether BTDR pays a dividend and how the payout looks is covered in does BTDR pay a dividend?
Build a basket around BTDR with Walnut
Use Bitdeer Technologies Group as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What does Bitdeer (BTDR) do?
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Bitdeer is a vertically integrated digital-asset company that mines bitcoin at scale, designs its own SEALMINER ASIC hardware, provides cloud hosting and mining tools, and is building an AI cloud (GPU compute) business. It is listed on Nasdaq under the ticker BTDR.
Is Bitdeer profitable?
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No. As of Q1 2026 Bitdeer reported a net loss of about $159.5 million even though revenue grew roughly 169% year over year to about $188.9 million. It has negative operating and free cash flow and has relied on debt and equity raises to fund expansion.
How does BTDR make money?
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Most revenue comes from self-mining bitcoin, which contributed about $146.9 million in Q1 2026. The rest comes from cloud hosting, mining-tool services, sales of its SEALMINER hardware, and a growing but still small AI cloud business.
What is SEALMINER?
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SEALMINER is Bitdeer's line of proprietary ASIC mining machines, built with its own chip designs. Owning the hardware roadmap can lower mining costs and let Bitdeer sell rigs to other miners, but it also adds chip-development and manufacturing risk.
Why is Bitdeer pivoting to AI?
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Bitdeer is converting some of its data center capacity to AI and high-performance-computing cloud services to diversify away from volatile bitcoin mining. The AI cloud segment reached roughly $69 million of annualized recurring revenue by April 2026, though it remains early and competes against much larger cloud providers.
What are the main risks with BTDR stock?
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Key risks include deep net losses, heavy convertible-note debt (over $1.5 billion issued between 2024 and 2026) and resulting dilution, high sensitivity to bitcoin prices and the halving cycle, an unproven AI pivot, and dependence on continued access to capital markets.
Who founded Bitdeer?
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Bitdeer was founded by Jihan Wu, a co-founder of the mining-hardware giant Bitmain. The company is headquartered in Singapore and trades on Nasdaq as a foreign private issuer.
How does BTDR compare to MARA, RIOT, and CleanSpark?
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All are large listed bitcoin miners competing for hashrate and cheap power. Bitdeer's roughly 63 EH/s self-mining scale is among the biggest, and its in-house ASIC design sets it apart from peers that buy rigs, while several of them are also pursuing AI and HPC pivots. Walnut is not an investment adviser, and this is descriptive information, not a recommendation.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Bitdeer Technologies Group's investor relations page or your broker before making investment decisions.