Bitdeer's Q2 Bitcoin Mining Production Surges Almost 500% Year-Over-Year
During Q2, Bitdeer's mining operations produced 2,694 BTC, though the company's Bitcoin holdings stood at merely 150 BTC at quarter's end following a treasury sell-off earlier in the year.
Throughout the second quarter of 2026, Bitdeer's mining operations yielded 2,694 Bitcoin, representing an almost fivefold increase compared to the 565 BTC produced during the same period one year prior.
At the conclusion of the quarter, the mining company maintained 150 BTC on its corporate balance sheet, reflecting a 90% decrease from the 1,502 BTC held at the end of the second quarter the previous year, based on the company's Q2 financial report released on Monday.
In February, Bitdeer sold off its complete Bitcoin treasury of 943 BTC, with the company attributing this decision to liquidity management considerations rather than any strategic pivot away from its primary Bitcoin mining operations.
The company represents one of several Bitcoin mining operations that have diversified their business models by entering the artificial intelligence data center sector and high-performance computing markets. This past August, the firm executed a 16-year lease agreement worth $4.7 billion to secure 121 megawatts of computing capacity for AI applications in Norway.
Financial results for Q2 showed Bitdeer generated $228.8 million in total revenue, marking a 47% year-over-year increase from the $155.6 million recorded in the comparable quarter last year. Revenue from self-mining activities contributed $168.4 million to the overall total, driven by a 389% surge in average self-mining hashrate to 69.5 exahashes per second. Meanwhile, the company's net loss expanded to $92.3 million compared to $62.9 million in the prior year period.
The quarterly revenue figure from Bitdeer marginally exceeded the Wall Street consensus projection of $225 million, based on analyst forecasts aggregated by Yahoo Finance. On Monday during premarket trading, the company's stock price increased by 1.5%, though this followed a 15% decrease in share value throughout the preceding month.