Singapore's Bitdeer Q1 revenue slightly beats on self-mining expansion

Bitdeer Technologies

14/05/2026 12:16

Corrects metric for $0.68 in Key Details table to loss per share from adjusted loss per share

Overview

Singapore Bitcoin mining and AI infrastructure firm's Q1 revenue more than doubled, slightly beating analyst expectations

Company posted a significant net loss in Q1, missing analyst estimates

Adjusted EBITDA for Q1 missed analyst estimates as costs rose with new mining rigs online

Outlook

Company did not provide specific financial guidance for the current quarter or full year

Result Drivers

SELF-MINING EXPANSION - Revenue growth was primarily driven by a significant increase in average self-mining hashrate due to mass deployment of new mining rigs

HIGHER ENERGY AND DEPRECIATION COSTS - Cost of revenue rose mainly due to higher electricity and depreciation expenses from more mining rigs coming online and slightly higher power costs

INCREASED INTEREST EXPENSE - Net interest expenses rose due to increased borrowing through convertible senior notes and related party loans

Company press release: ID:nGNX8yj3Ns

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Slight Beat*
$188.90 mln
$187.27 mln (11 Analysts)
Q1 EPS
-$0.68
Q1 Net Income
Miss
-$159.50 mln
-$83.76 mln (8 Analysts)
Q1 Adjusted EBITDA
Miss
$14.40 mln
$16.89 mln (8 Analysts)

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the blockchain & cryptocurrency peer group is "buy"

Wall Street's median 12-month price target for Bitdeer Technologies Group is $20.00, about 51.3% above its May 13 closing price of $13.22

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

 (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)