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Bitcoin mining company offering both self-mining and cloud/hash-rate hosting services, spun off from Bitmain.
Bitcoin mining company offering both self-mining and cloud/hash-rate hosting services, spun off from Bitmain.
Gets bitcoin for processing transactions on the network, both in its own mining and through hash rate sold to others, plus fees for hosting miners' machines; the bitcoin price and network difficulty set what each machine earns. Designing its own mining chips, SEALMINER, is its newer push.
In one line: A Bitmain-linked bitcoin miner.
Moat: narrow (scale, cost advantage). Bitmain lineage gives preferential access to ASIC hardware and mining know-how.
Headquarters: Singapore · Founded: 2021 · Employees: 471
Size Bitdeer Technologies (BTDR) is a United States Information Technology company (Data Processing Services) with a market value of $1.63B, the 1931st largest of 3,117 United States companies the cockpit tracks. Shares closed at $6.01 on 6 Nov 2026.
Performance Over six months the shares fell 55.4%, against -33.9% for the median peer and -1.1% for the United States market (cap-weighted) — 5th lowest of 19 in its peer set.
Growth Revenue grew 127.7% over the last twelve months (peer median +10.7%); the operating margin is -29.9% (peer median 3.7%).
Valuation It trades at 3.8× enterprise value to sales against a peer median of 4.5× (10th cheapest of 21).
Capital Return on invested capital runs 18.9 points below its cost of capital (11.3% WACC).
Next results Next results expected around 10 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $812M | $620M | $350M | $369M | $333M |
| Revenue growth | — | +77% | -5% | +11% | — |
| Gross profit | $3.83M | $61.0M | $66.4M | $77.8M | $83.3M |
| EBITDA | $75.6M | -$18.6M | -$4.53M | $46.5M | $9.87M |
| Net income | -$448M | $65.6M | -$599M | -$56.7M | -$60.4M |
| Free cash flow | -$2.09B | -$2.00B | -$741M | -$400M | -$330M |
| Capital expenditure | $471M | $268M | $127M | $126M | $63.2M |
| Total debt | $1.95B | $1.10B | $286M | $92.8M | $100M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Bitdeer Technologies BTDR | $1.63B | -55% | +128% | -30% | 3.8× | n/a |
| MARA MARA | $2.45B | -51% | +1% | -123% | n/a | n/a |
| RIOT RIOT | $6.27B | -31% | +6% | -84% | 9.2× | n/a |
| CleanSpark CLSK | $1.58B | -57% | +7% | -52% | n/a | n/a |
| Ionic Digital IOND | $2.68B | n/a | -8% | -44% | 18.5× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | BTDR | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -38.1% | -10.3% | 7th lowest of 21 |
| 6-month return | -55.4% | -33.9% | 5th lowest of 19 |
| Distance from 52-week high | -74.2% | -43.9% | 4th lowest of 21 |
| Revenue growth (TTM) | +127.7% | +10.7% | 4th highest of 21 |
| Operating margin | -29.9% | 3.7% | 4th lowest of 21 |
| EV / Sales | 3.8× | 4.5× | 10th cheapest of 21 |
| ROIC minus cost of capital | -18.9 pp | -5.5 pp | 5th lowest of 19 |
| EV / EBITDA | 40.9× | 11.3× | 2nd most expensive of 12 |
| Net debt / EBITDA | 19.3× | 0.8× | most indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Bitdeer Technologies BTDR | United States | $1.63B | -55% | +128% | -30% | 3.8× | n/a | n/a |
| ChronoScale CHRN | United States | $1.57B | -31% | +190% | -68% | 32.6× | n/a | n/a |
| JMDC 4483.T | Japan | $1.52B | +10% | +19% | 20% | 5.0× | 19.7% | +24.6% |
| Suncorporation 6736.T | Japan | $1.49B | +22% | -11% | 1% | 23.8× | n/a | n/a |
| HawkEye 360 HAWK | United States | $1.45B | -55% | +88% | -8% | 5.7× | n/a | n/a |
| Shenzhen Xunce Technology 3317.HK | Hong Kong | $1.93B | -79% | +287% | -3% | 6.4× | n/a | n/a |
| Capitalonline Data Service 300846.SZ | China | $1.28B | -37% | 0% | -7% | 7.0× | n/a | n/a |
| Innodata INOD | United States | $1.27B | -56% | +39% | 17% | 3.2× | 15.9% | +34.0% |
| ASrock Rack 7711.TW | Taiwan | $1.23B | +35% | +183% | 10% | 1.2× | 7.5% | +42.1% |
| Rendong 002647.SZ | China | $1.20B | -43% | +6% | 6% | 3.9× | 42.3% | -17.2% |
| DXC Technology DXC | United States | $2.31B | +58% | -3% | 1% | 0.4× | 3.2% | -6.5% |
| Keel Infrastructure KEEL | United States | $1.15B | -53% | -23% | -121% | 7.8× | n/a | n/a |
| Csquare CSQR | United States | $2.39B | n/a | +9% | 10% | 7.9× | n/a | n/a |
| Sunevision 1686.HK | Hong Kong | $2.46B | -29% | +6% | 52% | 11.2× | 10.9% | +10.7% |
| Liberty Capital GLIBA | United States | $1.06B | -2% | +13% | 13% | 1.8× | 0.8% | +113.1% |
| Kingsoft Cloud 3896.HK | Hong Kong | $2.54B | -47% | +35% | -3% | 1.8× | n/a | n/a |
| VNET Group, Inc. Sponsored ADR VNET | United States | $1.00B | -64% | +23% | 7% | 3.5× | n/a | n/a |
| Ionic Digital IOND | United States | $2.68B | n/a | -8% | -44% | 18.5× | n/a | n/a |
| Beijing Sinnet Technology 300383.SZ | China | $2.70B | -37% | -2% | -11% | 3.3× | 46.5% | -0.7% |
| Tgs TGS.OL | Norway | $2.73B | -13% | -30% | 12% | 2.4× | 5.5% | +36.2% |
| BLS International Services BLS.NS | India | $973M | -23% | +29% | 23% | 2.5× | 9.7% | +44.4% |