Bitdeer mined 921 BTC in May, held 171 BTC month-end

Bitdeer reported it mined 921 BTC in May 2026 and held 171 BTC at month-end, compared with 196 BTC mined and 1,351 BTC held in May 2025. The company noted the May 2026 figure includes both self-mining and co-mining activity, while the May 2025 figure was reported as self-mining only.

Self-mining hashrate expanded from 13.6 EH/s a year earlier to about 70.2 EH/s. Using Bitcoin prices around $62,700–$62,900 on June 19, May production would be worth roughly $58 million and the month-end held balance roughly $10.7 million.

Monthly balances are point-in-time figures and do not show how much production was sold, pledged or otherwise deployed during the month.

In Q1 2026 Bitdeer reported mining 2,033 BTC versus 350 BTC in Q1 2025, and a quarter-end BTC balance of 31 compared with 1,156 a year earlier. The company disclosed $206.8 million of proceeds from the disposal of digital assets during the quarter.

Financial results for Q1 2026 included $188.9 million in revenue, adjusted EBITDA of $14.4 million and $297.7 million in cash, cash equivalents and restricted cash. The company recorded $346.9 million of net cash used in operating activities and $93.7 million of capital expenditures related to data center infrastructure, GPU procurement, tariffs and mining rigs delivered to data centers. Total borrowing on the balance sheet was about $1.9 billion.

Bitdeer reported AI Cloud annual recurring revenue near $69 million as of May 2026, with 4,248 GPUs deployed, 3,305 GPUs under external subscription and about 90% GPU utilization. The company launched two NVIDIA GB300 NVL72 clusters and added support for NVIDIA Nemotron 3 in its model studio. Recognized AI Cloud revenue in Q1 was $3.7 million; ARR is a run-rate metric and not the same as revenue already recorded.

The company is converting power sites into AI infrastructure. Its Tydal Data Center subsidiary in Norway is being developed into an approximately 180 MW AI data center. Construction work is under way, a vendor has been engaged for conversion and buildout, and Bitdeer described Tydal as in advanced negotiations with a potential colocation tenant. The company has said completion could occur as early as December 2026.

Bitdeer reported funding expansion through mined bitcoin sales, asset disposals, cash on hand and borrowing while investing in GPUs, data center buildout and related equipment.

The May operating update presented higher bitcoin production alongside a smaller retained bitcoin balance and continued growth in AI cloud metrics.