Bitdeer Technologies Group reported unaudited second-quarter 2026 results showing stronger revenue but continued pressure from electricity, depreciation and other operating costs as it scaled its mining and AI infrastructure. Total revenue for the three months ended June 30 rose to $228.8 million from $155.6 million a year earlier and from $188.9 million in Q1 2026, while cost of revenue increased to $237.3 million from $143.6 million in the second quarter of 2025 and $228 million in the first quarter of 2026. That left Bitdeer with a gross loss of $8.5 million, compared with a gross profit of $12 million a year earlier, though the result improved sharply from a $39 million gross loss in Q1 2026. Net loss narrowed to $92.3 million from $159.5 million in the prior quarter. The main driver of the quarter was rapid expansion in self-mining (using owned machines to mine Bitcoin), which generated $168.4 million in revenue versus $59.3 million a year earlier as average self-mining hash rate (computing power used for mining) jumped 389.4% to 69.5 exahashes per second. AI cloud revenue also climbed to $14 million from $1.3 million in the prior-year period. Bitdeer said higher electricity expense for self-mining, depreciation, share-based compensation, headcount, AI cloud service fees and co-mining hosting fees lifted the cost base, although the sequential pace of cost growth slowed. Bitdeer Chief Financial Officer Michael G. Potter said the quarter showed steady execution across AI infrastructure and Bitcoin mining fleets, pointing to a 16-year, $4.7 billion AI and high-performance computing data center lease with Volta at Tydal, Norway, as a milestone in turning power capacity into long-term contracted revenue. The company had also said in July that it started building a $36 million electronics manufacturing facility in Sparks, Nevada, its first U.S. assembly site for SEALMINER rigs. As of June 30, 2026, Bitdeer held $496.3 million in cash, cash equivalents and restricted cash.