Bitdeer Announces March 2026 Production and Operations Update
Rhea-AI Summary
Bitdeer (NASDAQ: BTDR) reported March 2026 operational updates highlighting rapid AI and bitcoin mining growth. AI Cloud ARR reached ~ $43M (up 105% month-over-month) with GPU utilization at 94%. Bitcoin production rose ~480% Y/Y to 661 BTC and self-mining hash rate reached ~70 EH/s. The company is negotiating colocation tenants for its Tydal, Norway AI data center and progressing multiple global site conversions and pipeline projects totaling ~3.0 GW capacity.
Positive
- AI Cloud ARR ~$43M, +105% month-over-month
- GPU utilization improved to 94% in March 2026
- Self-mined BTC 661 in March, +480% year-over-year
- Self-mining hash rate ~70 EH/s (Total proprietary deployed 70.9 EH/s)
- Total global capacity ~3.0 GW with 1,744 MW online
Negative
- BTC held declined to 31 from 51 month-over-month
- Self-owned rigs decreased to 225,000 from 232,000 month-over-month
- Hosted rigs declined to 37,000, reducing hosting revenue capacity
News Market Reaction – BTDR
On the day this news was published, BTDR gained 5.35%, reflecting a notable positive market reaction. Argus tracked a trough of -10.3% from its starting point during tracking. Our momentum scanner triggered 20 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $154M to the company's valuation, bringing the market cap to $3.04B at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
BTDR is up 6.45% while key software peers are mixed (e.g., DAVE +7.01%, NATL -0.2%, AGYS -0.63%, GRND -0.59%, NCNO +1.16%), indicating a stock-specific response to its AI and mining update.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Apr 07 | Mining rig launch | Positive | -2.1% | Introduced SEALMINER A4 Bitcoin miners with 9.45 J/TH efficiency and high hashrate. |
| Mar 30 | AI data center plan | Positive | -5.8% | Engaged DCI to develop 180 MW Tydal AI data center in Norway. |
| Mar 16 | Scrypt miner launch | Positive | +8.5% | Launched SEALMINER DL1 Air Scrypt miner with 25 GH/s and 149 J/GH. |
| Mar 16 | Ops update & notes | Positive | +8.5% | Reported strong February mining metrics and ~$21M GPU cloud ARR alongside note offering. |
| Feb 20 | Equity and notes offering | Negative | -2.0% | Priced share and notes offerings raising capital for expansion and refinancing. |
Product launches and operational updates often saw positive reactions, while some infrastructure and hardware news drew negative responses, showing mixed but generally event-sensitive trading.
Over recent months, Bitdeer has reported several growth-focused milestones. February’s update on 705 BTC mined, 68 EH/s self-mining hashrate, and GPU cloud ARR of ~$21M was followed by new miner launches and AI infrastructure expansion plans. Reactions varied: the February update and Scrypt miner launch coincided with gains of 8.53%, while announcements on the Tydal AI data center and SEALMINER A4 efficiency saw declines. Today’s March 2026 operations update extends this narrative of rapid scaling in AI cloud and Bitcoin self-mining.
Market Pulse Summary
The stock moved +5.3% in the session following this news. A strong positive reaction aligns with Bitdeer’s March update showing ~$43M AI cloud ARR, 105% month-over-month ARR growth, and self-mined 661 BTC with hashrate near 70 EH/s. Historical data shows prior operational updates and product launches sometimes produced gains but also occasional selloffs, so follow-through often depended on broader sentiment. High operational leverage in both AI and mining could amplify future volatility around subsequent updates.
Key Terms
arr financial
hash rate technical
colocation technical
gpu technical
agentic ai technical
AI-generated analysis. Not financial advice.
| Monthly Highlights |
- Bitcoin: Production increased
480% Y/Y to 661 Bitcoin - SEALMINERs: SEALMINER A4 series officially launched with efficiency reaches to ~9.45 J/T
- Colocation: Continued management focus on colocation lease agreements, with Tydal, Norway site in negotiations
- AI Cloud: Demonstrating strong M/M performance in ARR and utilization rates
| Key Metrics Summary | |||||
| Global Energy Capacity | Self-Mining Hash Rate | Self-Owned Rigs | BTC Mined | AI Cloud ARR | Colocation AI Data Center |
| 3.0 GW | 69.5 (EH/s) | 225K | 661 | ~ | Tydal, Norway in negotiations |
SINGAPORE, April 15, 2026 (GLOBE NEWSWIRE) -- Bitdeer Technologies Group (NASDAQ: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for AI and Bitcoin mining infrastructure, today announced its unaudited operations updates for March 2026.
Management Commentary
“This month marks a pivotal milestone in our company’s evolution. Driven by accelerating demand from AI customers, our AI cloud business achieved approximately
| Crypto Mining Update: |
CRYPTO Mining, R&D, Manufacturing:
- Self-Mined 661 Bitcoins, an increase of approximately
480% year over year. March mining was impacted by seasonal factors in Norway and Bhutan; we expect continued strong momentum in our mining results over the coming months. - Self-mining hash rate reached ~70 EH/s.
- Bitdeer expects self-mining hash rate to continue to grow for the next several months.
- SEALMINER A4 series officially launched with efficiency reaching to 9.45 J/T in early April 2026.
Key Crypto Metrics:
| Metric | March 2026 | February 2026 | March 2025 |
| Hash Rate Metrics: | |||
| Self-Mining (Operated in self-owned datacenters) | 65.1 | 63.8 | 11.5 |
| Self-Mining (Operated in 3rd parties’ datacenters) | 4.4 | 4.2 | - |
| Other Proprietary Hash Rate | 1.4 | 2.1 | 0.6 |
| Hosting | 7.2 | 9.0 | 12.1 |
| Total Hash Rate under Mgmt.1 (EH/s) | 78.1 | 79.1 | 24.2 |
| Mining Rig Metrics: | |||
| Self-owned2 | 225,000 | 232,000 | 97,000 |
| Hosted | 37,000 | 44,000 | 78,000 |
| Total Mining Rigs under Mgmt. | 262,000 | 276,000 | 175,000 |
| BTC Metrics | |||
| BTC Mined (Self-Mining only) | 661 | 705 | 114 |
| BTC Held3 | 31 | 51 | 1,156 |
1 Total hash rate under management as of March 31, 2026 across Bitdeer’s primary business lines: Self-mining, Cloud Hash Rate, and Hosting.
Self-mining (Operated in self-owned datacenters) refers to cryptocurrency mining for Bitdeer’s own account, whereby its mining rigs are operated in self-owned datacenters, enabling the company to directly capture the high appreciation potential of cryptocurrency.
Self-mining (Operated in 3rd parties datacenter) refers to cryptocurrency mining for Bitdeer’s own account, whereby its mining rigs are operated in third-party datacenters, enabling the company to directly capture the high appreciation potential of cryptocurrency.
Hosting encompasses a one-stop mining machine hosting solution including deployment, maintenance, and management services for efficient cryptocurrency mining.
2 Self-owned mining machines are for Bitdeer’s self-mining business and Cloud Hash Rate business.
3 Bitcoins held does not include Bitcoins from customer deposits, but does include Bitcoins that are pledged as collateral by us.
SEALMINER Manufacturing Metrics:
| Mining Rig Model (EH/s) | Stage | March 2026 | February 2026 |
| SEALMINER A4 | In final assembly | 0.1 | - |
| SEALMINER A3 | In final assembly | 0.8 | 4.6 |
| Ready for shipping | 4.7 | 0.4 | |
| In transit | 1.9 | 0.7 | |
| Cumulative A3 Deployed | 12.1 | 11.4 | |
| SEALMINER A2 | In final assembly | 0.5 | 1.0 |
| Ready for shipping | 2.9 | 2.1 | |
| In transit | 5.8 | 1.4 | |
| Cumulative A2 external sales | 8.2 | 8.1 | |
| Cumulative A2 Deployed | 49.5 | 48.4 | |
| SEALMINER A1 | Cumulative A1 Deployed | 4.2 | 4.2 |
| 3rd Party Miners | Cumulative Deployed | 5.1 | 6.1 |
| Total Proprietary Hash Rate | Deployed | 70.9 | 70.1 |
| Bitdeer AI Update: |
Colocation AI Data Center:
- Bitdeer is in negotiations with potential colocation tenants for Tydal, Norway and remains in active dialogue in Clarington, Ohio and various other sites.
AI Cloud Key Metrics: (as of 3/31/2026):
| Metric | March 2026 | February 2026 |
| GPU Amount Deployed | 2,128 | 2,096 |
| GPU Types | H100, H200, B200, GB200 | H100, H200, B200, GB200 |
| Utilization Rate | ||
| GPUs Under External Subscription | 1,948 | 1,240 |
| ARR4 | ~ | ~ |
4 ARR as of the last day of the respective month is calculated by multiplying the daily revenue generated from all contractually obligated GPU orders on that specific day by 365. This metric provides an annualized view of the revenue run-rate based on active contracts at the end of the reporting period.
- AI Cloud Operations: Maintained strong growth momentum with high GPU utilization driven by robust GPU demand and AI agent workloads, while a shift toward more mid-to-long-term contracts has improved revenue visibility and cash flow stability.
- Model Studio Evolution: Successfully rebuilt Model Studio into a unified, high-performance platform that now supports over 50 leading open-source models, enabling enterprises to deploy everything from basic inference to advanced multimodal applications.
- Agentic AI & NVIDIA Ecosystem: Expanded capabilities into agentic AI by integrating with the NVIDIA NemoClaw platform, providing secure, enterprise-grade environments for executing complex, multi-step workflows and cross-system orchestration.
- Strategic Market Engagement: Strengthened global brand presence and generated incremental business opportunities through the showcase of integrated AI solutions at the NVIDIA GTC conference.
| Infrastructure Summary | ||||||
| Site | (MW) Capacity | Energization Timing5 | Planned Usage | Construction Update | ||
| Online Electrical Capacity: | ||||||
| 1 | ) | Rockdale, TX | 563 | Online | Crypto to Colocation / AI Cloud | |
| 2 | ) | Knoxville, TN – phase 1 | 37 | Q4 ‘26 | Crypto to AI Cloud | Phase 1 AI data center conversion design work initiated, targeting to complete by Q4 ’26. |
| 3 | ) | Knoxville, TN – phase 2 | 49 | Q1 ‘27 | ||
| 4 | ) | Wenatchee, WA | 13 | Q4 ‘26 | Crypto to AI Cloud | AI data center design documents and building permit application submitted for approval. Core equipment is being delivered in succession; we plan to begin with a GB300 cluster. Dismantling of the crypto mining datacenter started in March 2026. Completion targeted Q4 ’26. |
| 5 | ) | Molde, Norway | 84 | Online | Crypto and in early assessment of converting to AI Cloud | |
| 6 | ) | Tydal, Norway – phase 1 | 50 | Q4 ‘26 | Crypto to Colocation | Planning and design continue to advance. Orders for critical long-lead equipment have been placed to support the targeted project timeline for completion around the end of 2026. Engaged Data Center Installations AS as Bitdeer’s design and construction partner for Tydal AI datacenter conversion. |
| 7 | ) | Tydal, Norway – phase 2 | 175 | Q4 ‘26 | ||
| 8 | ) | Gedu, Bhutan | 100 | Online | Crypto | |
| 9 | ) | Jigmeling, Bhutan | 500 | Online | Crypto | |
| 10 | ) | Oromia Region, Ethiopia | 50 | Online | Crypto | Construction of the 50 MW site has been completed and energized, with ongoing energization in phases driven by SEALMINER deliveries. |
| 11 | ) | Massillon, OH | 121 | Online | Crypto | 121 MW currently online. 26 MW in two fire-damaged buildings expected to be rebuilt and energized by the end of Q3’ 26. Remaining 74 MW is expected to be energized in phases during Q2 ’26. |
| 12 | ) | Cyberjaya, Malaysia6 | 2 | Online | AI Cloud | |
| Online Electrical Subtotal: | 1,744 | |||||
| Pipeline Electrical Capacity: | ||||||
| 1 | ) | Massillon, OH | 74 / 26 | Q2 ’26 / Q3 ’26 | Crypto | Reconstruction of the two fire-damaged buildings is currently underway. We anticipate that the total reconstruction cost will be almost fully recovered through the supplier’s insurance coverage. |
| 2 | ) | Clarington, OH | 570 | To be updated | Colocation | 570 MW of power under contract with a local utility. Timing of power availability and construction may be affected by ongoing legal proceedings filed by a neighboring company, American Heavy Plate Solutions, LLC., which is under extensive influence from MHR, a New York based PE firm founded by Mark H. Rachesky. Design and other preparation work continues. |
| 3 | ) | Niles, OH | 300 | Q4 ‘28 | Colocation / AI Cloud | 300 MW grid-interconnected development site, with target energization in Q4 ‘28. The project includes 41.8 acres of owned land and a transmission line extension agreement with a local utility company. |
| 4 | ) | Rockdale, TX | 179 | 2026 | Colocation / AI Cloud | In Planning |
| 5 | ) | Fox Creek, Alberta, Canada | 101 | Q2 ‘27 | Crypto | 101 MW site acquired, fully licensed and permitted for the construction of an on-site natural gas power plant. Assessing current design potential to accommodate future AIDC requirements. |
| 6 | ) | Cyberjaya, Malaysia6 | 9.5 | Q4 ‘26 | AI Cloud | In Progress |
| Pipeline Electrical Subtotal: | 1,259.5 | |||||
| Total Global Electrical Capacity: | 3,003.5 | |||||
5 Indicative timing for completion of power. All timing references are to calendar quarters and years.
6 Capacity under lease arrangement
Upcoming Conferences and Events
- May 20 - 21, 2026: B. Riley Securities 26th Annual Investor Conference
- May 27, 2026: Benchmark / StoneX Digital Asset Summit
- June 23, 2026: Northland Capital Markets Growth Conference - Virtual
About Bitdeer Technologies Group
Bitdeer is a world-leading technology company for AI and Bitcoin mining infrastructure. Bitdeer is committed to providing comprehensive Bitcoin mining solutions for its customers and building AI computational infrastructure to support the AI revolution. Bitdeer handles complex processes involved in computing such as equipment procurement, transport logistics, data center design and construction, equipment management, and daily operations. Bitdeer also offers advanced cloud capabilities to customers with high demand for artificial intelligence. Headquartered in Singapore, Bitdeer has deployed data centers across multiple countries, including the United States, Norway, Bhutan, and Ethiopia. To learn more, visit https://ir.bitdeer.com/ or follow Bitdeer on X @ BitdeerOfficial and LinkedIn @ Bitdeer Group.
Investors and others should note that Bitdeer may announce material information using its website and/or on its accounts on social media platforms, including X, formerly known as Twitter, Facebook, and LinkedIn. Therefore, Bitdeer encourages investors and others to review the information it posts on the social media and other communication channels listed on its website.
Forward-Looking Statements
Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. The words “anticipate,” “look forward to,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including factors discussed in the section entitled “Risk Factors” in Bitdeer’s annual report on Form 20-F, as well as discussions of potential risks, uncertainties, and other important factors in Bitdeer’s subsequent filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof. Bitdeer specifically disclaims any obligation to update any forward-looking statement, whether due to new information, future events, or otherwise. Readers should not rely upon the information on this page as current or accurate after its publication date.
For investor and media inquiries, please contact:
Investor Relations
Tesh Dahya, Head of Investor Relations
tesh.dahya@bitdeer.com
Media
Elev8 New Media
Jessica Starman, MBA
bitdeer@elev8newmedia.com
