Bitdeer Technologies Shares Rise 1.8% Premarket as Bitcoin Production Triples and AI Cloud Backlog Reaches $2.9 Billion

Bitdeer Technologies (NASDAQ:BTDR) shares advanced 1.8% in premarket trading on Tuesday after the company reported a 200% year-over-year increase in Bitcoin production and an expansion of its AI Cloud revenue backlog in its September 2026 operational update.

The company produced 1,355 Bitcoin during September, representing three times the output recorded in the corresponding month of 2025. Its self-mining hash rate increased to 82.3 exahashes per second (EH/s), compared with 35.0 EH/s a year earlier.

Bitdeer also reported that its AI Cloud revenue backlog reached approximately $2.9 billion, up from $900 million in August.

The increase was primarily associated with offtake commitments covering more than 70% of the company’s 21.7-megawatt A201 data centre in Johor Bahru, Malaysia. According to Bitdeer, these commitments represent more than $1.7 billion in expected revenue over five years.

The Malaysian facility is being developed to support NVIDIA GB300 NVL72 systems, with full deployment targeted for April 2027.

GPU utilisation within Bitdeer’s AI Cloud operations increased to 95% in September from 92% in August, reflecting higher usage of its available computing capacity.

Chief Financial Officer Michael Potter commented on the company’s operational progress, stating, “September demonstrated our ability to convert owned power into contracted AI Cloud revenue,”

The company also highlighted its collaboration with NVIDIA on enterprise agent safety and the recent acquisition of approximately 200 acres of land near its existing 563-megawatt facility in Rockdale, Texas.

The land acquisition forms part of Bitdeer’s ongoing infrastructure development activities, alongside its expansion into AI computing services.

Earlier in October, Barclays raised its price target for Bitdeer Technologies to $17 from $15 while maintaining an Overweight rating on the shares.

The operational update coincided with mixed movements across US equity index futures. The S&P 500 was marginally higher by 0.04%, while the Dow Jones Industrial Average advanced 0.25%. The Nasdaq declined approximately 0.30%.

Technology shares had recovered during the previous regular trading session, with semiconductor companies contributing to the sector’s advance following declines in the preceding week.

No major Federal Reserve announcements or inflation reports were scheduled for Tuesday, with investors awaiting US housing starts figures and preliminary purchasing managers’ index data later in the week.

Despite the premarket increase, Bitdeer shares remained below their 52-week high of $25.28.

The September update showed higher Bitcoin production, an increase in self-mining capacity and additional contracted revenue expectations from AI Cloud operations. The company continues to develop its computing infrastructure, including the Malaysian data centre scheduled for full deployment in April 2027.

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