Bitdeer Shares Plummet 15% Amid Norway AI Infrastructure Costs

Bitdeer Technologies reported a 15% decline in share price after releasing its Q2 2026 earnings, despite significant revenue growth and progress on its AI pivot. The company's net loss of $159.5 million was a major factor in the sell-off.

The $4.7 billion lease agreement for AI and high-performance computing capacity at Bitdeer's facility in Tydal, Norway, is a key part of the company's strategy to transition from Bitcoin mining to AI infrastructure.

Analysts have maintained buy ratings on BTDR, with price targets implying more than 100% upside from current trading levels. However, investors remain skeptical about the company's ability to fund its ambitious transformation story.