Last reviewed
2026-06-21
Mining data is a dated snapshot. Hashrate and energy figures are approximate.
BTC MiningNasdaq Global Select MarketBTDR
Bitdeer Technologies Group
4.9/10Overall score = 5.0*25% + 4.5*20% + 3.5*15% + 4.5*15% + 6.5*10% + 6.0*15% = 4.9. Weights: hashrate 25%, energy 20%, BTC held 15%, revenue 15%, dilution 10%, management 15%.
Key Metrics
Hashrate
63.2 EH/s
Global Major (>30 EH/s)
BTC Held
₿31
₿0.00000013/share
Market Cap
$4.37B
Nasdaq Global Select Market
Share Price
$18.00
Nasdaq Global Select Market
Revenue TTM
$700.0M
Trailing twelve months
Renewable Energy
48%
Mixed Energy
Grid Energy
52%
Non-renewable mix
Overall Score
4.9/10
Composite rating
Last reviewed
2026-06-21
Manual review date
Score Breakdown
Methodology: Overall score = 5.0*25% + 4.5*20% + 3.5*15% + 4.5*15% + 6.5*10% + 6.0*15% = 4.9. Weights: hashrate 25%, energy 20%, BTC held 15%, revenue 15%, dilution 10%, management 15%.
View full scoring methodology →SCORE FINGERPRINT · 6 FACTORS
The score as a shape.
Each spoke is one of the six sub-factors behind BTDR's 4.9/10, plotted 0–10 and ordered by methodology weight. The filled shape is the company's profile. Two miners can share an overall score and still have opposite shapes — a balanced hexagon is a different bet than a spike on one axis with thin edges everywhere else. BTDR is strongest on dilution (6.5/10) and thinnest on btc treasury (3.5/10).
BTDR profileStrong tier (8–10)Factor ≥ 7Factor < 5
Each axis is a 0–10 sub-score from the Pledge mining methodology; spokes ordered by factor weight (w%). Dashed ring = the 8–10 strong tier. The weighted composite is 4.9/10. Scores are a dated editorial assessment, not investment advice.
Hashrate & Scale
Total Hashrate
63.2 EH/s
Tier
Global Major (>30 EH/s)
Self-Mined BTC (TTM)
₿6,500
Share Price
$18
Shares Outstanding
243,000,000
Energy & Sustainability
48% RenewableMixed Energy52% grid mix
hydro 31%
solar 9%
wind 8%
grid mix 52%
BTC Treasury
Total BTC Held
₿31
BTC per Share
₿0.00000013
BTC Holdings Score
3.5/10
Financial Health
Market Cap
$4.37B
Revenue (TTM)
$700.0M
Total Debt
$1.90B
Share Price
$18
Shares Outstanding
243,000,000
Revenue Score
4.5/10
LEVERAGE2.7xdebt ÷ revenue (TTM)
BTC CUSHION0.00xcoin value ÷ debt · illustrative spot
Debt is not an explicit factor in the composite score; these ratios surface the leverage and bitcoin-cushion read directly. BTC cushion uses an illustrative spot, not a live quote.
Dilution & Equity Structure
Total Debt
$1.90B
Dilution Score
6.5/10
Bitdeer has utilized equity and convertible-note programs (borrowings ~$1.9B as of Q1 2026) to fund a rapid self-mining fleet expansion, alongside its in-house SEALMINER ASIC program. Share count and leverage have grown materially.
Highlights
- +Average self-mining hashrate of ~63.2 EH/s in Q1 2026 (+551% YoY) — among the largest in the peer group, powered by its in-house SEALMINER ASICs.
- +48% renewable energy mix, with meaningful hydroelectric power from Norwegian, Bhutanese, and other international operations.
- +Q1 2026 revenue of ~$188.9M, more than double the prior-year quarter, spanning self-mining and its hardware platform.
- +Operational diversification across several countries (U.S., Norway, Bhutan) reduces single-market risk.
- +Vertical integration via proprietary ASIC design gives it a potential cost and supply advantage.
Considerations
- !Holds only 31 BTC on the balance sheet (down from over 1,000 a year earlier) — effectively no BTC-treasury exposure after selling to fund expansion.
- !Revenue includes hardware and hosting alongside self-mining, making peer-to-peer mining-efficiency comparisons less direct.
- !Borrowings of ~$1.9B (Q1 2026) materially raise leverage relative to the revenue base.
- !Reported a sizeable Q1 2026 net loss (~$159.5M) despite revenue growth.
- !Operations span multiple countries, creating regulatory, tax, and operational complexity.
Best For
Investors seeking a globally diversified BTC mining equity with a hardware operations component, and who can tolerate a lower BTC treasury profile.
Evidence
Why trust this view
Verification
Sources
4 cited
Each data point is traced back to a named source listed below.
How we score
Mining methodology
Open the scoring rules before relying on a ranking.
Boundary
Not investment advice
Pledge provides comparison data for educational purposes only.
Sources
verifiedSEC Filing
Bitdeer Q1 2026 results (6-K)
Official Q1 2026 release discloses ~63.2 EH/s average self-mining hashrate (+551% YoY), only 31 BTC held as of March 31, 2026, ~$188.9M revenue, ~$159.5M net loss, and ~$1.9B borrowings.
https://www.stocktitan.net/news/BTDR/bitdeer-reports-unaudited-financial-results-for-the-first-quarter-of-k8x5si3ll86m.html ↗verifiedSEC Filing
Bitdeer Q1 2026 SEC filing (6-K, EDGAR)
EDGAR-filed Q1 2026 exhibit corroborating self-mining hashrate, BTC holdings, revenue, and balance-sheet metrics for the period ending March 31, 2026.
https://www.sec.gov/Archives/edgar/data/0001899123/000121390026013949/ea027632501ex99-1_bitdeer.htm ↗partialMarket Data
StockAnalysis BTDR statistics
Market data snapshot used for share price, shares outstanding, market capitalization, and valuation metrics; treated as partial due to potential delay.
https://stockanalysis.com/stocks/btdr/statistics/ ↗partialResearch
CoinGecko BTDR BTC treasury
Research treasury profile tracks BTDR BTC holdings, BTC per share, estimated market value, and company details.
https://www.coingecko.com/en/treasuries/bitdeer ↗Notes
Hashrate (63.2 EH/s) is the Q1 2026 average self-mining figure; hosted capacity is separate. BTC holdings collapsed to 31 BTC as the company sold its treasury to fund expansion. selfMinedBtcTtm is an approximation. Shares outstanding (~243M) implied from June 2026 market cap / share price; treat as approximate. Market data delayed/estimated. Not investment advice.
Not investment advice. Pledge provides comparison data for educational purposes only. This snapshot was checked 2026-06-21. Past performance does not guarantee future results.
Affiliate disclosure. Pledge currently does not earn affiliate or referral fees from any product listed on this page. If that changes, monetized links will carry a clear ↗ AFFILIATE marker.
Mining metrics. Hashrate, energy mix, and BTC treasury figures are based on reported data and may not reflect current holdings or operational status.
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Not investment advice. Pledge provides comparison data for educational purposes only; it is not financial, investment, legal, or tax advice. Listed rates, terms, and scores can change and Pledge does not guarantee future availability, pricing, approval, or outcomes. Verify current terms with official sources before acting.
Affiliate disclosure. Pledge currently has no affiliate links, referral fees, or sponsored placements. If a paid relationship is ever added, it will be disclosed inline where it appears — and it will not affect rankings or scores.