Bitdeer Technologies Group (NASDAQ:BTDR) Issues Earnings Results, Misses Estimates By $0.13 EPS

Bitdeer Technologies Group (NASDAQ:BTDR) issued its quarterly earnings results on Tuesday. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.13), Zacks reports. The firm had revenue of $320.75 million for the quarter, compared to analyst estimates of $258.18 million. Bitdeer Technologies Group had a negative return on equity of 54.72% and a negative net margin of 55.15%. The business’s revenue was up 89.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.28) EPS.

Here are the key takeaways from Bitdeer Technologies Group’s conference call:

• Bitdeer reported record third-quarter revenue of $320.7 million, up 89% year over year, and Adjusted EBITDA of $69.6 million. Gross profit turned positive, while the $125.5 million net loss included significant non-cash charges.
• The AI platform’s expected contracted revenue reached about $7.6 billion, including $2.9 billion of AI cloud backlog and $4.7 billion from Tydal’s base lease term. Management also reported about 332 IT megawatts of secured AI cloud capacity, while noting secured capacity is not the same as customer-contracted capacity.
• Tydal phase one remains on schedule for year-end, with customer installations expected to begin in January; phase two deliveries are expected to start in 2027. The company is pursuing project financing, and completion and financing remain important execution milestones.
• Bitcoin mining output rose to 3,855 BTC, up 43% from the prior quarter, while the quarter-end self-mining hash rate reached 82.3 EH/s. Power cost per Bitcoin was about $36,000, down from $49,000 a year earlier, as fleet efficiency improved.
• Cash and cash equivalents fell to $163.7 million from $456.8 million as quarterly capital expenditures reached $478 million; total debt was $1.95 billion. Bitdeer said it expects to rely on project- and GPU-level financing, customer prepayments and Bitcoin sales to fund growth, and those financings are still being pursued.

Bitdeer Technologies Group Stock Performance

Shares of NASDAQ BTDR traded up $0.66 during trading on Wednesday, reaching $7.07. 3,292,603 shares of the company traded hands, compared to its average volume of 9,741,462. The stock has a market cap of $1.61 billion, a P/E ratio of -2.31 and a beta of 2.72. The firm’s fifty day simple moving average is $9.62 and its 200 day simple moving average is $11.43. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.20. Bitdeer Technologies Group has a 12-month low of $5.03 and a 12-month high of $20.72.

Insider Activity at Bitdeer Technologies Group

In related news, insider Haris Basit bought 25,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average cost of $8.84 per share, with a total value of $221,000.00. Following the completion of the acquisition, the insider directly owned 35,000 shares in the company, valued at approximately $309,400. The trade was a 250.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Recent Bitdeer Technologies Group Headlines

Investors following BTDR have been watching these headlines:

• Positive Sentiment: The company said infrastructure capital spending is targeted at or below $200 million and Tydal’s first phase remains on schedule for year-end delivery, supporting its expansion plans while signaling spending discipline. Capex and Tydal update
• Neutral Sentiment: Needham lowered its price target to $18 from $20 but kept a Buy rating, reflecting a reduced valuation outlook alongside continued analyst optimism.
• Neutral Sentiment: Trading in call options was notably elevated, which may indicate bullish positioning but is not confirmation of a change in the company’s fundamentals. Bitdeer call-options activity

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods reduced their price objective on Bitdeer Technologies Group from $14.00 to $10.00 and set a “market perform” rating for the company in a research note on Thursday, August 13th. Weiss Ratings lowered Bitdeer Technologies Group from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Friday, October 2nd. Barclays cut their price target on shares of Bitdeer Technologies Group from $17.00 to $14.00 and set an “overweight” rating on the stock in a report on Wednesday. Needham & Company LLC reduced their price target on shares of Bitdeer Technologies Group from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, B. Riley Financial decreased their price objective on shares of Bitdeer Technologies Group from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, October 30th. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.10.

Bitdeer Technologies Group Company Profile

Bitdeer Technologies Group is a technology company focused on cryptocurrency mining and related infrastructure. Its business includes operating mining data centers, mining digital assets for its own account, and providing hosting services that allow customers to deploy and operate mining equipment. The company also develops and sells cryptocurrency mining machines and offers cloud hash rate services, which provide customers access to computing capacity for mining without requiring them to operate the equipment themselves.