Bitdeer Technologies Group Q2 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Key Highlights

  • Announced $4.7B 16-year colocation lease with Volta at Tydal, Norway campus (121 IT MW / 133 gross MW across 4 data halls for NVIDIA GPUs); includes 8-year renewal option potentially reaching $8B over 24 years. Features 3% annual escalator on base rent/service fee, full electricity pass-through reimbursement. Delivery phased: Phase 1 by Dec 31, 2026; Phase 2 by Mar 31, 2027. Volta backed by institutional-grade credit structure. Remaining CapEx ~$500M (brownfield/semi-developed site).
  • Global power portfolio reached ~3 GW at end of Q2, +12% year-over-year.
  • Self-mining hash rate hit 73 EH/s (+342% YoY), supported by ~243,000 active rigs (+113% YoY). Q2 Bitcoin production: 2,694 BTC (+377% YoY). Co-mining hash rate +260% sequentially.
  • Launched SEALMINER A4 Ultra Hydro (9.45 J/TH chip-level) and new DL1 Hydro for script algorithm mining. Broke ground on 187,000 sq ft manufacturing facility in Sparks, Nevada (completion end-2026, 10k units/month capacity).
  • AI cloud ARR reached $76M (+77% QoQ) at 95% utilization on 4,248 GPUs. New 10-year Malaysia lease for 21.7 IT MW (handover Q1 2027, supports 128 NVIDIA GV300 NVL72 systems).

Financial Performance (Q2 2026 vs. Prior Periods)

  • Revenue: $228.8M (+47% YoY; +21% QoQ), driven by self-mining expansion and AI cloud contribution of $14M (+284% QoQ).

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Operator: Good day. Thank you for standing by. Welcome to Bitdeer's Second Quarter 2026 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to turn the conference over to your first speaker today, Pretesh Dahya, Head of Investor Relations. Please go ahead. Pretesh Dahya: Thank you, operator, and good morning, everyone. Welcome to Bitdeer Technology Group's Second Quarter 2026 Earnings Conference Call. Joining me today are Jihan Wu, Founder, Chairman and Chief Executive Officer; Haris Basit, Chief Strategy Officer; and Michael Potter, Chief Financial Officer. Today's call will begin with Haris providing a review of our recently announced Tydal, Norway colocation lease agreement, followed by Michael, with a review of our business segments and second quarter financial results. Before management begins their formal remarks, I would like to remind everyone that during today's call, we may make certain forward-looking statements. These statements are based on management's current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially. For a more complete discussion of forward-looking statements and the risks and uncertainties related to Bitdeer's business and industry, please refer to the company's filings with the U.S. Securities and Exchange Commission. I also want to note that we will be discussing certain non-GAAP financial measures and operating met

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