Bitdeer Technologies Group
Bitdeer Technologies Group provides infrastructure and services for Bitcoin mining and AI computing, combining data center development, equipment procurement, logistics, and operations support. The company serves customers through computing infrastructure and cloud capabilities, with a footprint across the United States, Norway, Bhutan, Ethiopia, and other markets.
Fiscal year 2025 · change from previous year
Development 2021–2025
Business
Share of revenueFacilities, equipment, and services used to operate Bitcoin mining fleets.
Bitdeer-operated mining activity using owned or co-owned equipment.
Compute capacity and infrastructure used for AI workloads and related demand.
Cloud-based computing services offered to customers with high AI demand.
Procurement, transport, construction, maintenance, and daily operating support.
Customers
Bitdeer sells to customers that need computing capacity rather than traditional enterprise software or consumer products. Its customer base includes Bitcoin mining participants, infrastructure partners, and AI users that need access to compute, data center capacity, and related operational services.
Buy mining infrastructure and operating support to access hashpower and facility capacity.
Use cloud and infrastructure capacity for AI workloads and training demand.
Share mining infrastructure and operational capacity through co-mining arrangements.
Engage for data center buildout, logistics, and equipment handling services.
Strategy
Bitdeer’s strategy centers on expanding owned and leased compute infrastructure while building scale in both Bitcoin mining and AI-related workloads. It also emphasizes control over the full operating chain, from equipment procurement and construction to daily data center operations, which is intended to improve deployment speed and service reliability.
Mining and AI businesses are constrained by access to reliable electrical capacity and sites.
AI demand can diversify the company beyond pure Bitcoin mining exposure.
Owning more of the buildout and operating chain can improve execution control.
Geography
Bitdeer is headquartered in Singapore and operates a distributed infrastructure footprint across the United States, Norway, Bhutan, Ethiopia, and other countries. Geography matters because power availability, permitting, climate, and local infrastructure determine where mining and compute capacity can be deployed.
Risks
The business is exposed to volatility in Bitcoin mining economics, power availability, and the timing of datacenter deployments, which can affect utilization and expansion. It also faces execution risk from complex site construction, equipment logistics, and regulatory differences across multiple countries, while the AI infrastructure opportunity depends on sustained customer demand and competitive capacity supply.
- Bitcoin market volatilityImpact: HighLikelihood: High
Mining economics depend on Bitcoin prices, network difficulty, and reward conditions.
Exposure: Self-mining and co-mining operations
- Power and permitting delaysImpact: HighLikelihood: High
Datacenter capacity requires timely electrical interconnection and approvals.
Exposure: Global datacenter expansion
- Construction and execution riskImpact: HighLikelihood: Medium
The company manages complex buildouts, logistics, and operational ramp-ups across sites.
Exposure - Cross-border regulatory riskImpact: MediumLikelihood: Medium
Operations span multiple jurisdictions with different energy, tax, and compliance rules.
Exposure - AI demand uncertaintyImpact: MediumLikelihood: Medium
AI compute capacity growth depends on customer adoption and pricing competition.
Exposure: AI cloud and infrastructure
Accounting
Judgemental itemsLarge equipment and construction spend is recorded as assets and depreciated over time.
Impact: Affects operating profit timing and asset base
Held digital assets and receivables can fluctuate with market prices and collectability.
Impact: Affects asset carrying values and earnings volatility
Leased capacity and hosted infrastructure require contract classification and related judgments.
Impact: Affects balance sheet recognition and expense timing
Wafers, chips, WIP, and finished SEALMINERs designated for self-mining/co-mining were moved to PPE.
Impact: Changes current asset levels, PPE balances, and depreciation profile
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Last updated: 28/09/2026