BTDR
Bitdeer Technologies Group

Bitdeer Technologies GroupBTDR

Technology · Software - Application
6.01USD
+13.18%
Nov 08, 2026
BTDR overview ready
Global provider of cloud hash rate and mining hosting services
Bitdeer is repurposing and expanding portions of its globally distributed, power-intensive Bitcoin-mining infrastructure into AI cloud and AI/HPC colocation capacity while continuing self-mining, hosting, cloud hash-rate services, and proprietary SEALMINER deployment.
Primary theme is lagging
Crypto is lagging (-24.2pp vs SPY over 21 sessions; 1 of 15 members ahead of SPY).
Price trend is broken
Longer-term context reads damaged structure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
Fair valuation
The price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably….
Solid fundamentals
Ev / ebitda is strong.
Primary risk
Cryptocurrency price volatility impacting demand.
Market Nov 6Price action Nov 7Research Nov 1

Conviction Level

PriceAction1.4BusinessPerformance—BusinessQuality—Valuation3.5ThemeMomentum1.0Business Performance not yet available.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
CryptoLagging
vs SPY
−24.2pp
Theme return
−29.2%
Beating SPY
1 of 15
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads damaged structure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
EntryDamaged / breakdown

The technical structure itself is broken across timeframes — the weakest entry profile.

Key Financials

Market Cap
$1.6B
Avg Volume (60D)
10.1M
60 sessions
Revenue Growth YoY
+127.7%
Trailing twelve months
Gross Margin
+0.7%
Operating Margin
-29.9%
Trailing twelve months
Free Cash Flow Yield
+1.7%
Distance from 200DMA
-47.6%
Next Earnings
2026-11-10
EV / EBITDA
6.1x
EV / Sales
3.8x
Market metrics as of Nov 7, 2026

Business Performance

Business Quality

Not assessed

Not assessed — the company files under a regime the financial record does not cover yet.

Fundamentals & Valuation

The available comparisons disagreed; the intrinsic comparison is the more reliable method for this business and the others are published as dissent.
Bitdeer Technologies Group has a Fair valuation stance because the price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.

What changed

Company Research

Thesis
Bitdeer is repurposing and expanding portions of its globally distributed, power-intensive Bitcoin-mining infrastructure into AI cloud and AI/HPC colocation capacity while continuing self-mining, hosting, cloud hash-rate services, and proprietary SEALMINER deployment.
Opportunity
High opportunity
Development, conversion, and leasing of power-secured data-center campuses and GPU-cloud capacity to meet AI training and inference demand when hyperscalers and enterprises face shortages of energized, deployable capacity.
Key risk
Cryptocurrency price volatility impacting demand.

Economic classification

Loading the economic classification…

Business & Markets

Technology · Software - Application
What they do

Bitdeer Technologies Group operates blockchain and high-performance computing infrastructure globally, providing hash rate sharing and cryptocurrency mining services through owned and hosted mining datacenters.

How it earns

The company generates revenue primarily through subscription plans for cloud hash rate sharing and hosting services, as well as mining cryptocurrencies for its own account.

Products & services
Cloud hash rate sharing solutions
Mining rig hosting and management services
Customers & end markets
Cryptocurrency miners
Blockchain technology users
Market position

Niche player offering integrated hash rate sharing and mining hosting solutions in the blockchain infrastructure sector.

Demand drivers
High cyclicality

Business performance is closely tied to cryptocurrency market cycles and mining profitability.