BTDR Surges 6.34% on Mining Expansion, Q2 Revenue Jumps 56.8% to $155.6M

Bitdeer Technologies Group (BTDR) surged 3.42% on Tuesday, marking its second consecutive day of gains. The stock has climbed 6.34% over the past two sessions, reaching an intraday high of 4.95% and hitting a level not seen since September 2025.

The rally follows a strategic expansion of Bitcoin mining operations, with self-mining output rising 33% in August to 375 new Bitcoins. This growth was driven by a 35% increase in hashrate to 30.0 EH/s, supported by proprietary SEALMINER rigs. The company aims to reach 40 EH/s by October 2025, reflecting its aggressive scaling strategy.

Infrastructure developments in Norway and Bhutan added 528.5 MW of capacity, while new sites in Ohio and Texas are set to enhance energy efficiency. These moves position Bitdeer to leverage low-cost renewable energy, a key competitive edge in mining.

Q2 financials exceeded expectations, with revenue hitting $155.6 million, a 56.8% year-over-year jump. Diversified revenue streams, including AI cloud services generating $8 million in annualized revenue, underscore operational resilience. A cleanup redemption of $7.7 million in convertible notes also highlights efforts to optimize capital structure.

Analysts have upgraded BTDR to $19 from $18, citing strong momentum. Technical indicators show a rising trend line, suggesting continued investor confidence. However, challenges persist: a $147.7 million net loss in Q2 and a leverage ratio of 5.6 highlight risks tied to operational costs and debt management.