Bitdeer Technologies Group reported sharply higher Bitcoin production in the second quarter, with output rising nearly fivefold from a year earlier as the company expanded its self-mining capacity.
Revenue also increased from the same period last year, although the company’s net loss widened. The quarter reflected stronger mining scale, reduced Bitcoin holdings, and continued efforts to broaden the business into AI data centers and high-performance computing.
Bitcoin output rises with mining capacity
According to the reported results, Bitdeer mined 2,694 Bitcoin in the second quarter, compared with 565 Bitcoin in the same period a year earlier. The increase came alongside a major expansion in the company’s self-mining operations.
Bitdeer said its self-mining hash rate climbed 389% year over year to 69.5 exahashes per second. That expansion helped lift self-mining revenue to $168.4 million during the quarter, making it the largest contributor to the company’s top line.
Revenue grows but losses deepen
Second-quarter revenue reached $228.8 million, up 47% from $155.6 million a year earlier. The figures indicate that the company converted its larger mining footprint into higher sales over the period.
At the same time, Bitdeer’s net loss widened to $92.3 million from $62.9 million in the prior-year quarter. The reported results therefore show growth in production and revenue alongside heavier losses.
Bitcoin reserves shrink after February sale
Bitdeer previously sold all 943 Bitcoin it held in February in order to secure liquidity, while saying that its core mining strategy remained unchanged.
By the end of the second quarter, the company’s Bitcoin holdings had fallen to 150. That was down 90% from 1,502 Bitcoin a year earlier, underscoring how far its treasury position has contracted despite the jump in quarterly output.
Expansion extends beyond crypto mining
Alongside its mining business, Bitdeer is pushing further into AI data centers and high-performance computing. The company signed a 16-year lease agreement in Norway in August covering 121 megawatts of AI computing facilities.
The deal was reported at a value of $4.7 billion. That agreement points to a parallel expansion strategy beyond Bitcoin mining, even as self-mining remained the main driver of second-quarter revenue.
What the latest results show
The quarter’s confirmed figures show a company scaling up mining output quickly, generating higher revenue, and at the same time operating with a smaller Bitcoin reserve than a year earlier.
The next confirmed area to watch is how Bitdeer balances its core mining strategy with its newer AI and high-performance computing buildout, after pairing strong production growth with a wider net loss in the latest quarter.
Source: en.bloomingbit.io