BTDR Stock Jumps As Bitdeer Pulls Further Ahead Of Cipher In Bitcoin Mining

• Bitdeer mined 990 Bitcoin in June, its best month ever and nearly five times the 203 BTC mined in June of last year.
• The company’s self-mined hash rate rose to 73 EH/s, one of the fastest growth rates among publicly traded Bitcoin miners.
• The company is growing globally with new data center projects in Malaysia and Norway, and is scaling up production of its proprietary Sealminer mining hardware.

Shares of Bitdeer Technologies (BTDR) jumped more than 10% in early trading Tuesday after the Bitcoin (BTC) miner and AI infrastructure company reported mining 990 BTC in June, its best month ever and nearly five times the 203 BTC it mined a year ago. The update also pointed to how far ahead Bitdeer’s mining scale has pulled away from rival Cipher Digital (CIFR), whose hash rate has been shrinking as it winds down Bitcoin mining for an AI data center pivot.

The company’s self-mining hash rate hit 73.0 EH/s, compared to 70.2 EH/s in May and 16.5 EH/s in June 2025, according to the firm, making Bitdeer one of the fastest scaling miners in the industry.  A higher hash rate means the company is using more computing power to mine Bitcoin, which usually means more coins per month.

BTDR stock was trading at $12.56 during midday trade. On Stocktwits, the retail sentiment around BTDR remained in the ‘neutral’ zone, while chatter around it stayed in the ‘normal’ levels over the past day.

Cipher Versus Bitdeer

​​Cipher Digital's mining hash rate has been declining as it winds down Bitcoin mining for its HPC pivot, dropping to around 11.6 EH/s as of its Q1 2026 earnings call compared to roughly 23.6 EH/s at the end of Q4 2025. Bitdeer's 73.0 EH/s now exceeds 6 times Cipher's remaining capacity. Bitdeer is continuing to scale Bitcoin mining alongside AI Cloud, while Cipher expects mining to be immaterial by 2030.

CIFR’s stock was up over 15% during midday trade. On Stocktwits, the retail sentiment around CIFR improved to the ‘extremely bullish’ zone from the ‘bullish’ zone, while chatter around it rose to ‘high’ from ‘low’ levels over the past day.

AI Cloud Business Accelerates

The production update also highlighted the momentum of Bitdeer’s AI pivot. 

AI Cloud annualized recurring revenue rose to roughly $76 million at 95% Graphics processing unit (GPU) utilization, up from $69 million at 90% utilization in May. The company delivered its first NVIDIA (NVDA) GB300 NVL72 clusters under a five-year GPU cloud sales contract, putting it on par with hyperscalers deploying Nvidia’s latest AI hardware.

Bitdeer CFO Michael G. Potter said “June reflected continued execution across the company's AI platform,” while adding that GB300 deliveries reinforced its enterprise-grade capabilities.

International Expansion Continues

Bitdeer has also secured a new 10-year lease on a data center in Johor Bahru, Malaysia, to provide 21.7 megawatts of IT capacity, expected to be handed over in the first quarter of 2027. The facility was designed to support 128 NVIDIA GB300 NVL72 systems. The company also confirmed that its colocation lease at Tydal, Norway, has been executed, subject to conditions precedent.

The company’s $36 million Sealminer manufacturing facility in Sparks, Nevada, which pushed BTDR up 15% on the announcement earlier this month, remains on track to be completed by year-end. 

Bitdeer mined 921 BTC in May, so the 990 BTC in June was a 7.5% increase month-over-month, extending a streak of consecutive monthly production.

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