Bitdeer Technologies Group Stock Price, News & Analysis

Bitdeer (Nasdaq: BTDR) priced a registered direct offering of 10,661,140 Class A ordinary shares at $13.94 per share, expected to close on November 19, 2025, with estimated net proceeds of approximately $148.4 million. Separately announced is a notes offering of 4.00% convertible senior notes due 2031 with estimated net proceeds of approximately $388.0 million (or $446.4 million if initial purchasers fully exercise their option).

Bitdeer intends to use combined net proceeds to pay ~$35.4 million for capped call transactions, ~$267.9 million to repurchase $200.0 million aggregate principal of its 5.25% convertible senior notes due 2029, and the remainder for datacenter expansion, ASIC mining rig development, HPC/AI cloud expansion, working capital, and general corporate purposes. Closings are mutually contingent as described.

Bitdeer (Nasdaq: BTDR) priced US$400.0 million of 4.00% convertible senior notes due 2031, with an initial purchaser option to buy an additional US$60.0 million; expected close is November 17, 2025. Interest is semiannual and notes mature on November 15, 2031. Initial conversion rate is 56.2635 shares per US$1,000 (≈US$17.77 per share).

Net proceeds are expected to be ≈US$388.0 million (≈US$446.4 million if option exercised) to fund capped call costs (≈US$35.4 million), a cash repurchase of November 2029 notes (≈US$267.9 million for US$200.0 million principal) and datacenter, ASIC, HPC/AI cloud expansion and working capital.

Bitdeer (Nasdaq: BTDR) announced a proposed private placement of up to US$400.0 million principal amount of convertible senior notes due 2031, with an initial purchaser option for an additional US$60.0 million. The notes will be senior unsecured, pay interest semiannually, and may be settled in cash, Class A ordinary shares, or a combination at Bitdeer’s election.

Bitdeer intends to use net proceeds, together with a contemplated registered direct offering, to fund capped call transactions, repurchase a portion of its 5.25% convertible notes due 2029, and for datacenter expansion, ASIC mining rig development, and HPC/AI cloud growth, plus working capital.

Bitdeer (Nasdaq: BTDR) announced a proposed registered direct offering of Class A ordinary shares on Nov 12, 2025, to certain holders of its 5.25% convertible senior notes due 2029.

The number of shares and price will be set at pricing. Bitdeer intends to use net proceeds from the registered direct offering, together with proceeds from a separately announced private offering of convertible senior notes due 2031, to repurchase a portion of the November 2029 notes in privately negotiated, cash transactions. Each of the registered direct offering, the notes offering and the note repurchase transactions is contingent on completion of the others, except the notes offering which is not contingent on the registered direct offering or repurchases.

Barclays is placement agent and ICR Capital is financial advisor. A preliminary prospectus supplement will be filed with the SEC.

Bitdeer (NASDAQ: BTDR) reported a fire at its under-construction Massillon, Ohio development site on November 12, 2025. Firefighters extinguished the blaze shortly after arrival. The company said no personal injuries occurred and no mining equipment had been installed at the site when the fire happened. Two of the 26 buildings under construction sustained fire damage. Bitdeer stated it does not expect an impact on its current operational hashrate.

Bitdeer (NASDAQ: BTDR) reported unaudited Q3 2025 results on Nov 10, 2025. Revenue was $169.7M (+173.6% YoY) and adjusted EBITDA was $43.0M (vs. -$7.9M a year ago). Gross profit reached $40.8M and gross margin was 24.1%. The company recorded a net loss of $266.7M, driven largely by $247.6M non-cash fair value losses on derivative liabilities. Cash was $196.3M and crypto balance $246.2M as of Sept 30, 2025; borrowings totaled $824.3M.

Operationally, total hash rate under management was 49.2 EH/s and self-mining hit 41.2 EH/s (end Oct 2025). SEALMINER A3 mass production commenced; SEAL04 samples showed 6–7 J/TH chip-level efficiency.

Bitdeer (NASDAQ: BTDR) reported October 2025 operational results and infrastructure updates. Self-mining produced 511 BTC in October, +13% month-over-month, and self-mining hashrate reached 41.2 EH/s, surpassing its 40 EH/s target. Total proprietary deployed hash rate was 41.3 EH/s and total hash rate under management was 55.5 EH/s as of October 31, 2025.

SEALMINER deployments increased deployed proprietary rigs to 28.9 EH/s in October; SEAL04 chip testing showed ~6–7 J/TH in low-voltage mode, targeting mass production in Q1 2026 but noting significant development delays. AI cloud ARR reached US$8 million with 584 GPUs deployed (87% utilization). Multiple U.S. and global data center conversions and energization milestones are in progress with several Q4 2025–Q4 2026 target dates.

Bitdeer (NASDAQ: BTDR) scheduled its Third Quarter 2025 earnings conference call for Monday, November 10, 2025 at 8:00 AM EST. The company will discuss unaudited financial and operational results for the quarter ended September 30, 2025, followed by a Q&A session.

Bitdeer will release the Q3 2025 results before the call at approximately 7:00 AM EST on November 10, 2025. A live and archived webcast and the earnings release will be available on Bitdeer’s Investor Relations website at https://ir.bitdeer.com. Participants joining by phone must register to receive dial-in details, passcode, and PIN; callers are encouraged to connect about 5 minutes early.

Bitdeer (NASDAQ: BTDR) reported September 2025 operational results and infrastructure progress. Self-mining produced 452 BTC in September, ~20.5% above August, with 35.0 EH/s proprietary hashrate deployed and a target of 40 EH/s by end-October.

Product and R&D updates include mass production start for the SEALMINER A3 series and a first SEAL04 chip tape-out with initial chip-level tests showing sub-10 J/TH. Cloud business reached $8M AI cloud ARR with 584 GPUs and ~86% utilization.

Infrastructure: total global capacity rose to ~3 GW; Clarington, Ohio confirmed 570 MW availability by end-Q3 2026; new 300 MW Niles site launched (energization target Q1 2029).