Bitcoin
Bitdeer nearly quintuples Bitcoin mining output in Q2 despite slashed reserves
The mining company produced 2,694 BTC in the second quarter but ended the period holding just 150 BTC, having liquidated its treasury earlier in the year.
Bitdeer mined 2,694 Bitcoin in Q2 2026, a nearly fivefold increase from 565 BTC in the same quarter of 2025, according to its quarterly report published Monday. However, the company's on-balance-sheet holdings fell sharply to 150 BTC, down 90% year-on-year from 1,502 BTC.
The decline in holdings reflects a February liquidation of Bitdeer's entire 943 BTC treasury. The company attributed the move to liquidity decisions rather than any shift away from its core mining operations.
Bitdeer reported Q2 revenue of $228.8 million, up 47% from $155.6 million a year earlier. Self-mining revenue totalled $168.4 million, with average self-mining hashrate jumping 389% to 69.5 exahashes per second. The company posted a net loss of $92.3 million, widening from $62.9 million in the prior-year quarter.
The revenue figure slightly exceeded Wall Street consensus of $225 million. Bitdeer shares rose 1.5% in premarket trading on the report, though the stock has declined 15% over the past month. The company has expanded beyond mining into AI data centers and high-performance computing, signing a 16-year lease in August for 121 megawatts of AI computing capacity in Norway valued at $4.7 billion.
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