Bitdeer’s AI Cloud Backlog More Than Triples to $2.9 Billion as September Bitcoin Output Reaches 1,355 BTC

Bitdeer Technologies Group (NASDAQ: BTDR), a Singapore-based provider of AI cloud services and Bitcoin mining infrastructure, announced on October 19, 2026 its unaudited operations update for September. The report showed AI Cloud revenue backlog of approximately $2.9 billion, up from $0.9 billion a month earlier, alongside 1,355 Bitcoin mined during the month.

A201 Contract Drives the Backlog Jump

Most of the increase came from a single facility. Bitdeer AI secured off-take commitments for more than 70% of its approximately 21.7MW A201 data center in Johor Bahru, Malaysia, representing more than $1.7 billion in expected revenue over five years. The liquid-cooled facility supports NVIDIA GB300 NVL72 systems and next-generation Vera Rubin architectures, and the company said it procured more than 100 GB300 NVL72 racks ahead of energization, with full deployment targeted for April 2027.

“September demonstrated our ability to convert owned power into contracted AI Cloud revenue,” said Michael G. Potter, Chief Financial Officer of Bitdeer.

The current AI Cloud business is smaller than the backlog. As of September 30, Bitdeer reported annualized recurring revenue of approximately $86 million from 4,328 deployed GPUs, with 4,007 under external subscription and a 95% utilization rate.

A 333.5MW Pipeline Across Malaysia, Norway and the U.S.

Bitdeer’s AI Cloud pipeline now totals 333.5MW of IT load across facilities in Malaysia, Norway, Washington and Tennessee. Recent additions in Malaysia include 67MW at the A901 campus, with full delivery planned for the second quarter of 2027, and 60MW at the A103 facility, planned for the first quarter of 2028.

Separately, in August Bitdeer signed a 16-year colocation lease at its Tydal, Norway campus covering 121 IT megawatts, worth approximately $4.7 billion over the base term and up to approximately $8.0 billion with an 8-year renewal option. In September, the company also acquired 200 acres near its existing 563MW Rockdale, Texas site to support AI and high-performance computing development, and announced a collaboration with NVIDIA on security for enterprise AI agents.

Mining Output and Second Quarter Results

On the mining side, Bitdeer mined 1,355 Bitcoin in September, up 200% from 452 a year earlier, as self-mining hash rate reached approximately 82.3 EH/s, compared with 35.0 EH/s in September 2025. The company held 747 Bitcoin at month end.

Bitdeer’s latest quarterly results show the scale of the business behind the expansion. For the second quarter of 2026, the company reported total revenue of $228.8 million, compared with $155.6 million a year earlier, a net loss of $92.3 million and adjusted EBITDA of $31.1 million. Cash, cash equivalents and restricted cash totaled $496.3 million as of June 30, 2026. Bitdeer also said it will move its infrastructure updates from monthly to quarterly, issued alongside its earnings releases.

Strategic Investment Summary

• Backlog Expansion: Bitdeer Technologies Group (NASDAQ: BTDR) reported AI Cloud revenue backlog of approximately $2.9 billion as of September 30, 2026, up from $0.9 billion in August.
• A201 Contract: Off-take commitments for more than 70% of the 21.7MW A201 facility in Malaysia represent more than $1.7 billion in expected revenue over five years.
• Current Run Rate: AI Cloud annualized recurring revenue stood at approximately $86 million, with 4,328 GPUs deployed and 95% utilization.
• Capacity Pipeline: The AI Cloud pipeline totals 333.5MW, including new Malaysian capacity at A901 (67MW) and A103 (60MW).
• Mining Output: Bitdeer mined 1,355 Bitcoin in September, up 200% year over year, with self-mining hash rate of approximately 82.3 EH/s.
• Balance Sheet: Cash, cash equivalents and restricted cash totaled $496.3 million as of June 30, 2026, with second quarter revenue of $228.8 million.

Find out more about the latest corporate developments and financial reports at the Bitdeer investor portal.