Bitdeer grows Bitcoin holdings 35% to 2,029 BTC in Q3

Bitdeer Technologies Group ended the third quarter holding 2,029 BTC. That is a 35% jump from the 1,502 BTC it held a quarter earlier.

The Nasdaq-listed miner (ticker: BTDR) is stacking coins faster than it used to. It is also quietly branching out into AI cloud services, which makes the bigger treasury more interesting than a simple scoreboard update.

The quarter in numbers

Start with the treasury. Going from 1,502 BTC to 2,029 BTC works out to 527 additional coins in a single quarter.

Production explains where those coins came from. Bitdeer mined 1,109 BTC during Q3, a 96% increase compared with the same period a year earlier.

The engine behind that output is hash rate. Bitdeer’s self-mining hash rate reached 35 EH/s in the quarter.

The financials followed the production curve. Quarterly revenue came in at $169.7 million, up 174%.

Adjusted EBITDA landed at $43 million. That metric strips out items like interest, taxes, and depreciation, giving a rough read on operating profitability before the accountants get creative.

Mining more than it keeps

One detail is worth sitting with. Bitdeer mined 1,109 BTC but grew its treasury by 527 BTC.

That gap suggests not every freshly minted coin stayed on the balance sheet. The company has not broken out the difference here, but the arithmetic implies a meaningful share of production went elsewhere, whether to cover costs or other uses.

What stands out is that Bitdeer still managed to grow its holdings by more than a third.

Background: a miner with a second act

Bitdeer built its name in Bitcoin mining. More recently, it has been expanding into AI cloud services, joining a broader push by publicly traded miners to find income that does not rise and fall with the Bitcoin price.

The logic is straightforward. Miners already own the expensive stuff AI companies want: power contracts, cooling, and large data center footprints.

What this means

For shareholders, Q3 reads as a growth quarter on almost every axis. Output nearly doubled, revenue rose 174%, and the treasury grew 35%.

The treasury piece matters because it gives BTDR investors direct exposure to Bitcoin’s price on top of the mining business itself.

Investors will want to track three things in coming quarters: whether hash rate keeps climbing, whether the treasury continues to grow or gets tapped, and how much of the revenue mix starts coming from AI cloud services rather than block rewards.