Bitdeer Technologies (BTDR) Research & Development (2022 - 2026)
Bitdeer Technologies' (BTDR) quarterly Research & Development came in at -$36.1 million in Q2 2026, down 75.28% on a YoY basis from -$145.8 million in Q2 2025, and down 78.48% quarter-over-quarter from -$20.2 million in Q1 2026.
Analysis
Bitdeer Technologies (BTDR) Research & Development (2022 - 2026) Analysis & Trends
Bitdeer Technologies (BTDR) has reported Research & Development for 5 consecutive years, with -$36.1 million the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Research & Development fell 75.28% year-over-year to -$36.1 million; the trailing twelve-month figure through Jun 2026 stood at -$130.5 million (down 2.54% YoY), and the FY2025 full-year result was -$153.9 million, down 99.98% from the prior year.
- Research & Development eased to -$36.1 million in Q2 2026 per BTDR's latest filing, from -$20.2 million in the prior quarter.
- Across five years, Research & Development topped out at -$6.3 million in Q1 2023 and bottomed at -$59.0 million in Q1 2025.
- Historically, Research & Development has averaged -$21.1 million across 5 years, with a median of -$20.4 million in 2025.
- The sharpest annual moves came in 2024 and 2026: Research & Development tumbled 236.26% in 2024, then surged 65.77% in 2026.
- Over 5 years, Research & Development stood at -$8.5 million in 2022, then climbed by 2.65% to -$8.3 million in 2023, then plunged by 175.68% to -$22.9 million in 2024, then slumped by 53.71% to -$35.2 million in 2025, then dropped by 2.43% to -$36.1 million in 2026.
- According to Business Quant data, Research & Development over the past three periods registered -$36.1 million, -$20.2 million, and -$35.2 million for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Bitmine Immersion Technologies | 56.87 Bn | 56.53 Bn | 40.81 Mn | - |
| 2 | Iren | 34.00 Bn | 26.43 Bn | 103.89 Mn | - |
| 3 | Hut 8 | 11.52 Bn | 5.04 Bn | 48.04 Mn | - |
| 4 | Riot Platforms | 8.24 Bn | 7.69 Bn | 84.97 Mn | - |
| 5 | Argo Blockchain | 6.43 Bn | 6.43 Bn | - | - |
| 6 | MARA Holdings | 4.32 Bn | 3.96 Bn | - | 7.17 Mn |
| 7 | Cleanspark | 3.26 Bn | 3.05 Bn | - | - |
| 8 | Bitdeer Technologies | 2.92 Bn | 2.46 Bn | -8.53 Mn | -36.05 Mn |
| 9 | Keel Infrastructure | 2.14 Bn | 2.13 Bn | -86.75 Mn | - |
| 10 | HIVE Digital Technologies | 853.00 Mn | 613.97 Mn | -29.49 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -36.05 Mn |
| Mar 31, 2026 | -20.20 Mn |
| Dec 31, 2025 | -35.20 Mn |
| Sep 30, 2025 | -39.09 Mn |
| Jun 30, 2025 | -20.57 Mn |
| Mar 31, 2025 | -59.00 Mn |
| Dec 31, 2024 | -22.90 Mn |
| Sep 30, 2024 | -24.84 Mn |
| Jun 30, 2024 | -29.21 Mn |
| Mar 31, 2024 | -21.16 Mn |
| Dec 31, 2023 | -8.31 Mn |
| Sep 30, 2023 | -8.50 Mn |
| Jun 30, 2023 | -12.73 Mn |
| Mar 31, 2023 | -6.29 Mn |
| Dec 31, 2022 | -8.53 Mn |
| Sep 30, 2022 | -7.16 Mn |
| Jun 30, 2022 | -8.66 Mn |
| Mar 31, 2022 | -11.08 Mn |