Bitdeer Revenue Rises 47% on Strong Self-Mining Growth

Bitdeer Technologies Group Inc (NASDAQ: BTDR) reported its Q2 earnings, with revenue increasing by 47% year-over-year to approximately $228.8 million.

The growth was driven by higher self-mining hash rate and Bitcoin production, as well as expansion in AI Cloud revenue. The company's self-mining hash rate reached about 73 exahashes per second at the end of the quarter, up about 342% from a year earlier.

Bitdeer also highlighted its recently announced 16-year colocation lease agreement at its Tydal, Norway campus, which management described as the formal launch of AI infrastructure colocation as a core business line alongside AI Cloud, Bitcoin mining, and ASIC development and manufacturing.