Bitdeer Bitcoin Output Rises 200% as AI Cloud Backlog Hits $2.9 Billion

Bitdeer Technologies Group (BTDR ) on October 19, 2026 published its unaudited production and operations update for September 2026, reporting 1,355 bitcoins mined during the month, which the company said represented a 200% increase year over year, and an AI Cloud revenue backlog of approximately $2.9 billion after new offtake commitments at a Malaysia data center.

“September demonstrated our ability to convert owned power into contracted AI Cloud revenue,” said Michael G. Potter, Chief Financial Officer of Bitdeer. “Offtake commitments covering more than 70% of our A201 facility in Malaysia, representing over $1.7 billion of expected revenue over five years, bring our AI Cloud revenue backlog to approximately $2.9 billion.” Potter added that the company’s collaboration with NVIDIA on enterprise agent safety and a land acquisition near its Rockdale site support the platform Bitdeer is building, and said the bitcoin mining business continues to benefit from strengthening pricing.

September Bitcoin Production

Bitdeer, an AI neocloud services and bitcoin mining infrastructure company, reported self-mining hash rate of approximately 82.3 EH/s for September 2026, compared with 79.9 EH/s in August 2026 and 35.0 EH/s in September 2025. Self-mining refers to mining for the company’s own account with rigs operated in Bitdeer-owned datacenters. Total proprietary hash rate stood at 86.4 EH/s, including 4.1 EH/s of other proprietary hash rate, a category the company defines as hashrate from its cloud hashrate business, rigs delivered to mining datacenters but not yet deployed, and rigs temporarily offline due to limited economic benefit. Co-mining hash rate, generated by Bitdeer rigs operated by third-party datacenters for the company’s own account, reached 28.7 EH/s versus 21.6 EH/s in August 2026.

The 1,355 bitcoins mined in September 2026, a figure that includes production from both self-mining and co-mining operations, compare with 1,310 in August 2026 and 452 in September 2025, according to the update’s metrics table. Bitdeer held 47 bitcoins at the end of September 2026, versus 61 at the end of August 2026 and 2,029 at the end of September 2025; the company states that its bitcoin-held figure excludes customer deposits but includes bitcoins pledged as collateral. The company said it continues to expect momentum in its mining results over the coming months.

AI Cloud Contracts and Colocation Developments

As of September 30, 2026, Bitdeer had 4,328 GPUs deployed, unchanged from August 2026, spanning H100, H200, B200, B300, GB200, and GB300 model types, with 4,007 GPUs under external subscription. Reported GPU utilization rose to 95% from 92% in August 2026, while AI Cloud ARR held at approximately $86 million. The company calculates ARR by multiplying daily revenue from all contractually obligated GPU orders on the last day of the month by 365, a metric it says provides an annualized view of the revenue run-rate, and it defines utilization as GPUs under internal and external orders divided by total deployed GPUs.

AI Cloud revenue backlog rose to approximately $2.9 billion at the end of September 2026 from approximately $0.9 billion at the end of August 2026. Bitdeer AI announced offtake commitments covering more than 70% of its approximately 21.7 MW A201 data center in Johor Bahru, Malaysia, which the company said are expected to generate more than $1.7 billion in revenue over five years. According to the company, the liquid-cooled facility supports NVIDIA GB300 NVL72 systems and next-generation Vera Rubin architectures, more than 100 GB300 NVL72 racks were procured ahead of energization, and full deployment and go-live are targeted for April 2027.

Bitdeer AI also recently announced data services agreements securing 67 MW of capacity at its A901 data center, with full delivery planned for the second quarter of 2027, and an additional 60 MW at its A103 data center, with delivery planned for the first quarter of 2028.

The update’s AI Cloud pipeline totals 333.5 MW of IT load across sites in Malaysia, Norway, and the U.S. states of Washington and Tennessee. The pipeline table lists Malaysia facilities A101 (2.5 MW, GB200 and GB300, live and 100% signed), A102 (9.5 MW, GB300, RFS in Q1 2027, 100% signed), A201 (21.7 MW, GB300 and Vera Rubin, RFS in January 2027, over 70% signed), A202 (65.1 MW, GB300 and/or Vera Rubin, Q3 2027, signed), A103 (60 MW, Vera Rubin, Q1 2028, signed), and A901 (67 MW, GB300, Q2 2027, signed), alongside self-owned sites A401 in Norway (42.7 MW, Vera Rubin, 2H 2027), A501 in Washington (10 MW, Vera Rubin, December 2027), and A601 in Tennessee (55 MW, Vera Rubin, October 2027).

In colocation, Bitdeer announced a 16-year AI/HPC data center lease for its Tydal, Norway campus that the company said represents approximately $4.7 billion of total contract value over the initial base term, with the potential to reach approximately $8.0 billion if the tenant exercises a one-time 8-year extension. The update’s key metrics summary identifies the tenant as Volta. Bitdeer said the Tydal facility is expected to be among Norway’s largest and most efficient AI data centers upon completion, with a PUE of approximately 1.1 and running on 100% renewable energy (RET ).

Bitdeer also acquired 200 acres near its existing 563 MW Rockdale facility to support AI/HPC infrastructure development. The company said outright ownership provides the long-term site control required to develop and finance such infrastructure, and that it believes the Rockdale site, with its existing large-load interconnection and established transmission infrastructure, is well positioned to receive additional power allocations over the coming years.

Separately, Bitdeer AI announced a collaboration with NVIDIA on the NVIDIA Open Agent Safety Platform, which combines NVIDIA OpenShell software controls and the NVIDIA Sentry reference system design. The collaboration focuses on infrastructure-level policy enforcement, sandboxing, and auditability for enterprise AI agents, and Bitdeer said it plans to integrate NVIDIA’s AI safety technology stack to strengthen software- and hardware-based protection for production-grade agentic workflows. During the month, Bitdeer AI sponsored AI Infra Summit 2026 in Santa Clara, served as Gold Sponsor at Tech Week Singapore, participated in the World AI Show Malaysia, took part in the NVIDIA Inception Grand Challenge, and hosted two hands-on community workshops.

Bitdeer said it will transition its infrastructure updates from a monthly reporting cadence to quarterly disclosures issued concurrently with its financial earnings releases. The company’s most recent infrastructure update was disclosed alongside its second-quarter 2026 financial results on August 10, 2026.