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Bitdeer Valuation Multiples

Discover revenue and EBITDA valuation multiples for Bitdeer and similar public comparables like SUNeVision, Quantum Computing Inc., Phoenix Group, Bitfarms and more.

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Bitdeer Overview

About Bitdeer

Bitdeer Technologies Group is principally engaged in provision of digital asset mining services. The Company does not conduct any substantive operations on its own but conducts its primary operations through its subsidiaries. Its majority business segments are: proprietary mining, cloud hash rate sharing and cloud hosting. The company operates five proprietary mining datacenters in the United States and Norway, Bhutan and Singapore.

Founded

2021

HQ

United States

Employees

246

Financials (LTM)

Revenue: $713M
EBITDA: $93M

EV

$3B

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Bitdeer Financials

Bitdeer reported last 12-month revenue of $713M and EBITDA of $93M.

In the same LTM period, Bitdeer generated $109M in gross profit, $93M in EBITDA, and $4M in net income.

Revenue (LTM)

Bitdeer P&L

In the most recent fiscal year, Bitdeer reported revenue of $350M and EBITDA of ($503M).

Bitdeer expects next 12-month revenue of XXX and NTM EBITDA of XXX

See Bitdeer forward-looking valuation multiples
LTMNTMLast FYFY 2026FY 2027FY 2028
Revenue$713MXXX$350MXXXXXXXXX
Gross Profit$109MXXX$66MXXXXXXXXX
Gross Margin15%XXX19%XXXXXXXXX
EBITDA$93MXXX($503M)XXXXXXXXX
EBITDA Margin13%XXX(144%)XXXXXXXXX
EBIT Margin13%XXX(26%)XXXXXXXXX
Net Profit$4MXXX($599M)XXXXXXXXX
Net Margin1%XXX(171%)XXXXXXXXX

Financial data powered by Morningstar, Inc.

Bitdeer Stock Performance

Bitdeer has current market cap of $2B, and enterprise value of $3B.

Market Cap Evolution

Bitdeer's stock price is $7.77.

See Bitdeer trading valuation data
EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$3B$2B0.0%XXXXXXXXX$-2.43

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Bitdeer Valuation Multiples

Bitdeer trades at 3.8x EV/Revenue multiple, and 29.4x EV/EBITDA.

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EV / Revenue (LTM)

Bitdeer Financial Valuation Multiples

As of March 21, 2026, Bitdeer has market cap of $2B and EV of $3B.

Equity research analysts estimate Bitdeer's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Bitdeer has a P/E ratio of 443.8x.

LTMNTMLast FYFY 2026FY 2027FY 2028
Market cap (current)$2BXXX$2BXXXXXXXXX
EV (current)$3BXXX$3BXXXXXXXXX
EV/Revenue3.8xXXX7.8xXXXXXXXXX
EV/EBITDA29.4xXXX(5.5x)XXXXXXXXX
EV/EBIT30.3xXXX(30.7x)XXXXXXXXX
EV/Gross Profit25.1xXXX41.3xXXXXXXXXX
P/E443.8xXXX(3.2x)XXXXXXXXX
EV/FCF(1.6x)XXX(3.7x)XXXXXXXXX

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Verified Bitdeer Valuation Multiples

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Bitdeer Margins & Growth Rates

Bitdeer's revenue in the last 12 month grew by 60%.

Bitdeer's revenue per employee in the last FY averaged $2.9M.

Bitdeer's rule of 40 is 73% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Bitdeer's rule of X is 163% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

See operational valuation multiples for Bitdeer and other 15K+ public comps

Bitdeer Operational Valuation Multiples

LTMNTMLast FYFY 2026FY 2027FY 2028
Revenue Growth60%XXX77%XXXXXXXXX
EBITDA Margin13%XXX(144%)XXXXXXXXX
EBITDA Growth300%XXX(107%)XXXXXXXXX
Rule of 40—XXX73%XXXXXXXXX
Bessemer Rule of X—XXX163%XXXXXXXXX
Revenue per Employee—XXX$2.9MXXXXXXXXX
S&M Expenses to Revenue1%XXX2%XXXXXXXXX
G&A Expenses to Revenue13%XXX18%XXXXXXXXX
R&D Expenses to Revenue21%XXX22%XXXXXXXXX
Opex to Revenue—XXX45%XXXXXXXXX

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Bitdeer Public Comps

See public comps and valuation multiples for other Crypto Mining and Data Centers comps.

EV/RevenueEV/EBITDA
LTM2026E2027ELTM2026E2027E
SUNeVisionXXXXXXXXXXXXXXXXXX
Quantum Computing Inc.XXXXXXXXXXXXXXXXXX
Phoenix GroupXXXXXXXXXXXXXXXXXX
BitfarmsXXXXXXXXXXXXXXXXXX
Jasmine Technology SolutionXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXXXXXXX

Valuation data powered by FactSet, Inc.

Bitdeer M&A Activity

Bitdeer acquired XXX companies to date.

Last acquisition by Bitdeer was on XXXXXXXX, XXXXX. Bitdeer acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

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Latest Acquisitions by Bitdeer

Acquired CompanyValuationEV/RevenueEV/EBITDA
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX

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Bitdeer Investment Activity

Bitdeer invested in XXX companies to date.

Bitdeer made its latest investment on XXXXXXXX, XXXXX. Bitdeer invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).

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Latest Investments by Bitdeer

CompanyValuationEV/RevenueEV/EBITDA
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX

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About Bitdeer

When was Bitdeer founded?Bitdeer was founded in 2021.
Where is Bitdeer headquartered?Bitdeer is headquartered in United States.
How many employees does Bitdeer have?As of today, Bitdeer has over 246 employees.
Who is the CEO of Bitdeer?Bitdeer's CEO is Jihan Wu.
Is Bitdeer publicly listed?Yes, Bitdeer is a public company listed on Nasdaq.
What is the stock symbol of Bitdeer?Bitdeer trades under BTDR ticker.
When did Bitdeer go public?Bitdeer went public in 2023.
Who are competitors of Bitdeer?Bitdeer main competitors are SUNeVision, Quantum Computing Inc., Phoenix Group, Bitfarms.
What is the current market cap of Bitdeer?Bitdeer's current market cap is $2B.
What is the current revenue of Bitdeer?Bitdeer's last 12 months revenue is $713M.
What is the current revenue growth of Bitdeer?Bitdeer revenue growth (NTM/LTM) is 60%.
What is the current EV/Revenue multiple of Bitdeer?Current revenue multiple of Bitdeer is 3.8x.
Is Bitdeer profitable?Yes, Bitdeer is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Bitdeer?Bitdeer's last 12 months EBITDA is $93M.
What is Bitdeer's EBITDA margin?Bitdeer's last 12 months EBITDA margin is 13%.
What is the current EV/EBITDA multiple of Bitdeer?Current EBITDA multiple of Bitdeer is 29.4x.
What is the current FCF of Bitdeer?Bitdeer's last 12 months FCF is ($2B).
What is Bitdeer's FCF margin?Bitdeer's last 12 months FCF margin is (243%).
What is the current EV/FCF multiple of Bitdeer?Current FCF multiple of Bitdeer is (1.6x).

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