BTDR Stock Forecast & Price Target

Bitdeer Technologies Group has demonstrated significant growth, with its total hash rate under management increasing to 49.2 EH/s by the end of October, and a remarkable 273.1% year-over-year rise in its average self-mining hash rate to 29.1 EH/s. The company reported self-mining revenue of $130.9 million, reflecting a 315% year-over-year increase, primarily driven by higher Bitcoin prices and improved mining efficiency, as evidenced by a notable reduction in miner energy consumption to 20.1 J/TH. Additionally, Bitdeer's membership hosting revenue of $14.0 million for the third quarter, a 41.4% increase year-over-year, highlights its successful strategy of upgrading customer hardware and expanding operational efficiency.

Bitdeer Technologies has reported a significant decline in its hosting revenue, which dropped to $8.4 million in the third quarter of fiscal year 2025, primarily due to the expiration of hosting contracts and the removal of inefficient mining machines. The company also experienced a concerning negative operating cash flow of $520 million for the quarter, exacerbated by high supply chain costs and mining-related expenses. Additionally, the expiration of long-term Cloud Hash Rate contracts has led to effectively zero revenue from this segment, raising concerns about the company's profitability in light of potential future regulatory challenges and ongoing pressures from factors such as Bitcoin halving.