Bitdeer's Q1 2026: AI Cloud Revenue Soars, Mining Production Skyrockets

Bitdeers Q1 2026 earnings showcase impressive growth, with revenue surging 170% to $188.9 million and adjusted EBITDA jumping $60 million to $14.4 million. The company excels in Bitcoin mining, chip development, AI cloud services, and data centers, with Bitcoin production up nearly 500% year-over-year. Their power strategy is robust, with 1.7 gigawatts online and a 3 gigawatt global pipeline for AI demand. The Tydal site in Norway, converting to an 180 megawatt AI data center, is a standout. AI cloud revenue soared, annual recurring reaching $43 million by quarter end and now at $69 million. Mining operations saw a 65 exahash per second self-hash rate, mining over 2,000 Bitcoin. Bitdeer is well-positioned for Q2, having raised $375 million in convertible notes, eyeing U.S. expansion, and prioritizing the Tydal lease for AI power. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/e2773cd66d8f02db