BTDR Stock Forecast & Price Target

Bitdeer Technologies Group has demonstrated significant growth in its operational metrics, with its total hash rate under management reaching 49.2 EH/s and an impressive 273.1% year-over-year increase in the average self-mining hash rate to 29.1 EH/s. The company reported total revenues of $169.7 million for the third quarter of fiscal year 2025, representing a 9% quarter-over-quarter increase and a substantial 315% year-over-year growth in self-mining revenue, driven primarily by rising Bitcoin prices and increased production. Furthermore, the projection for 2026 has been adjusted to reflect an estimated total revenue of $1.03 billion and a significant increase in adjusted EBITDA to $359.5 million, underscoring robust operational performance and optimistic future expectations.

Bitdeer Technologies Group reported a substantial adjusted EPS loss of $(0.43) for the third quarter of 2025, which fell significantly short of consensus estimates and marked a deterioration from the previous quarter's loss. Hosting revenue saw a notable decline to $8.4 million, primarily due to the expiration of contracts and the replacement of older machinery, while cloud hash rate revenue dropped to effectively zero, exacerbating concerns over revenue sustainability. A negative operating cash flow of $(520.0 million) further highlights financial strain, driven by high supply chain costs and interest expenses, alongside broader risks stemming from fluctuating cryptocurrency prices and potential regulatory impacts.