Bitdeer Technologies Group (NAS:BTDR)

Q1 2026 Bitdeer Technologies Group Earnings Call Transcript

May 14, 2026 / 12:00 PM GMT

Release Date Price: $14.75 (+11.57%)

Transcript

Key Points

Positve

Bitdeer Technologies Group (BTDR) reported a significant increase in Bitcoin mining production, growing almost 500% year-on-year.
The company launched the industry-leading Seal Miner A4 series, enhancing their mining capabilities.
AI cloud revenue is rapidly growing, with annual recurring revenue reaching approximately $69 million by the end of March.
BTDR is converting its Titel Norway facility into what is expected to be Norway's largest AI data center, with advanced negotiations for a lease tenant.
The company reported a total revenue of $188.9 million for Q1 2026, an increase of approximately 170% year-over-year.

Negative

Gross profit was negative $39 million, reflecting a gross margin of negative 20.7%, due to low Bitcoin prices and high non-cash depreciation expenses.
Operating loss for the quarter was negative $159.5 million, with earnings per share at negative $0.68.
Litigation at the Clarington site could affect the timing of construction, posing a risk to development timelines.
Seasonal power cost dynamics at Norway and Bhutan facilities increased energy costs, impacting profitability.
Sequential revenue declined from $224.8 million in Q4 2025, reflecting lower average Bitcoin prices and a shift towards self-mining deployment.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BTDR.OQ - Bitdeer Technologies Group
Q1 2026 Bitdeer Technologies Group Earnings Call
May 14, 2026 / 12:00PM GMT

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Presentation
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Unidentified_1 [1]
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Hello, and welcome to BitDear Technology's First Quarter 2026 Earnings Conference Call.

At this time, all participants are in a listen-only mode.

After the speaker's presentation, there will be a question-and-answer session.

To ask the question during the session, you will need to press *11 on your telephone.

You will then hear an automated message advising your hand is raised.

To withdraw your question, please press start one one again.

I would now like to hand the conference over to Tesh Dhya. You may begin.

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Unidentified_2 [2]
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