Bitdeer Technologies Group reported a net loss of $251.8 million for the six months ended June 30, 2026, compared to net income of $42.4 million in the prior year period. Total revenues increased 85% to $417.7 million, driven by a 226.5% surge in self-mining revenue to $315.2 million and growth in AI cloud services, despite a sharp decline in mining rig sales. The company incurred a gross loss of $47.6 million due to increased depreciation and electricity costs associated with expanded operations. In recent developments, Bitdeer acquired 200 acres in Texas for approximately $100 million and secured an $8 billion potential colocation agreement with Volta Tydal AS in Norway. Additionally, the company issued $375 million in convertible senior notes in February 2026 and drew down significant facilities under its BIT Assets Collateralized Loan arrangement. Bitdeer operates in the cryptocurrency mining and digital asset infrastructure industry.
