Overview

* Bitdeer Q3 2025 rev grows 173.6% yr/yr, beating analyst expectations

* Adjusted EBITDA for Q3 2025 beats consensus, reflecting operational improvements

* Company posts net loss for Q3 2025, missing analyst expectations

Outlook

* Company expects AI cloud services to generate over $2 bln annualized revenue by end of 2026

* Bitdeer targets SEALMINER A3 mass production to begin in Q1 2026

* Company sees global AI infrastructure shortage persisting through at least 2027

Result Drivers

* SELF-MINING EXPANSION - Revenue growth driven by increased self-mining hashrate and higher Bitcoin prices

* AI STRATEGY - Co expanding AI initiatives to capture global demand for compute, leveraging 3.0 GW power portfolio

* SEALMINER PRODUCTION - Mass production of SEALMINER A3 underway, SEAL04 samples show power efficiency

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $169.70 $154.26

Revenue mln mln (11

Analysts

)

Q3 Net Miss -$266.70 -$30.41

Income mln mln (4

Analysts

)

Q3 Beat $43 mln $18.32

Adjusted mln (11

EBITDA Analysts

)

Q3 Gross $40.80

Profit mln

Q3 $60.50

Operatin mln

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the blockchain & cryptocurrency peer group is "buy"

* Wall Street's median 12-month price target for Bitdeer Technologies Group ( BTDR ) is $32.00, about 31.3% above its November 7 closing price of $21.99

* The stock recently traded at 35 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)