Bitdeer Technologies Group (BTDR) Balance Sheet
BTDR balance sheet, 2025
December 31, 2025 · U.S. dollars$2.80B assets = $1.94B liabilities + $867.8M equity
Both columns are drawn to the same scale: what BTDR owns equals what it owes plus shareholders’ equity. Hover a block for its value.
BTDR financial health
Descriptive bands, not a rating. Fiscal 2025.
BTDR balance sheet trends, 2020–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $853.3M2020 | $2.80B2025 | +26.9%/yr | |
| Total liabilities | $707.4M2020 | $1.94B2025 | +22.3%/yr | |
| Shareholders’ equity | $145.9M2020 | $867.8M2025 | +42.8%/yr | |
| Cash & short-term investments | $50.9M2020 | $176.7M2025 | +28.3%/yr | |
| Total debt | $47.6M2020 | $1.19B2025 | +90.3%/yr | |
| Net cash (debt) | $3.3M2020 | −$1.01B2025 | −$1.0B | |
| Working capital | −$614,0002020 | −$134.0M2025 | −$133.4M | |
| Book value per share | $1.312020 | $3.702025 | +23.1%/yr | |
| Current ratio | 1.002020 | 0.912025 | −0.09 | |
| Debt / equity | 0.332020 | 1.372025 | +1.04 | |
| Shares outstanding | 111.3M2020 | 234.3M2025 | +16.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
BTDR assets
BTDR liabilities and equity
BTDR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
BTDR balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Cash & short-term investments | $176.7M | $518.8M | $161.1M | $231.4M | $372.1M | $50.9M |
| Cash & equivalents | $171.7M | $476.3M | $144.7M | $231.4M | $372.1M | $44.8M |
| Short-term investments | $5.0M | $42.5M | $16.4M | $26.6M | $6.7M | $6.1M |
| Receivables | $176.6M | $25.1M | $17.5M | $22.0M | $20.7M | $2.0M |
| Inventory | $252.0M | $64.9M | $346,000 | $335.9M | $31.3M | −$605.3M |
| Other current assets | $781.4M | $17.4M | $81.4M | $0 | $157,553 | $1.23B |
| Total current assets | $1.39B | $626.2M | $260.3M | $319.6M | $424.2M | $677.5M |
| Property, plant & equipment (net) | $525.1M | $388.0M | $277.0M | $226.4M | $208.0M | $135.1M |
| Goodwill & intangible assets | $129.2M | $119.1M | $4.8M | $322,000 | $115,000 | $76,000 |
| Long-term investments | $39.3M | $38.0M | $37.8M | $61.0M | $99,000 | $55,000 |
| Other non-current assets | $724.3M | $386.7M | $59.5M | $44.1M | $14.5M | $40.5M |
| Total assets | $2.80B | $1.56B | $639.4M | $651.4M | $647.0M | $853.3M |
| Liabilities | ||||||
| Accounts payable | $119.8M | $31.5M | $32.5M | $15.8M | $17.7M | $3.1M |
| Short-term debt | $763.0M | $213.6M | $5.3M | $34.8M | $200,000 | $29.9M |
| Deferred revenue | $64.4M | — | $49.5M | $182.3M | $213.4M | $11.6M |
| Total current liabilities | $1.52B | $1.10B | $121.2M | $221.2M | $258.9M | $678.1M |
| Long-term debt | $247.3M | $0 | $22.6M | $29.8M | $29.5M | $877,000 |
| Lease obligations | $98.2M | $78.1M | $70.2M | $70.4M | $63.0M | $21.9M |
| Other long-term liabilities | $168.8M | $181.1M | $163.0M | $82.1M | $70.5M | $28.4M |
| Total liabilities | $1.94B | $1.28B | $306.8M | $333.1M | $358.9M | $707.4M |
| Shareholders' equity | ||||||
| Common stock & paid-in capital | — | — | — | $1,000 | $1,000 | $145.9M |
| Retained earnings (deficit) | −$583.4M | −$649.0M | −$49.9M | $6.8M | $67.2M | $0 |
| Accumulated other comprehensive income | $1.78B | $1.09B | $385.0M | $311.5M | $220.9M | — |
| Total shareholders' equity | $867.8M | $276.6M | $332.6M | $318.3M | $288.1M | $145.9M |
| Key figures | ||||||
| Total debt | $1.19B | $286.3M | $92.8M | $100.2M | $92.4M | $47.6M |
| Net cash (debt) | −$1.01B | $232.5M | $68.3M | $131.1M | $279.7M | $3.3M |
| Working capital | −$134.0M | −$473.9M | $139.1M | $98.3M | $165.3M | −$614,000 |
| Tangible book value | $738.6M | $157.5M | $327.8M | $318.0M | $288.0M | $145.8M |
| Book value per share | $3.70 | $2.01 | $3.01 | $2.86 | $2.59 | $1.31 |
| Shares outstanding | 234.3M | 137.4M | 110.5M | 111.3M | 111.3M | 111.3M |
| Current ratio | 0.91 | 0.57 | 2.15 | 1.44 | 1.64 | 1.00 |
| Quick ratio | 0.23 | 0.49 | 1.47 | 1.15 | 1.52 | 0.08 |
| Debt / equity | 1.37 | 1.03 | 0.28 | 0.31 | 0.32 | 0.33 |
| Equity / assets | 30.9% | 17.8% | 52.0% | 48.9% | 44.5% | 17.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $494.1M | $296.0M | $176.7M | $284.6M | $473.7M | $382.2M | $518.8M | $291.3M | $203.9M | $128.0M | $161.1M | $134.5M |
| Cash & equivalents | $490.1M | $291.3M | $171.7M | $196.3M | $299.8M | $215.6M | $476.3M | $291.3M | $203.9M | $128.0M | $144.7M | $134.5M |
| Short-term investments | $4.0M | $4.7M | $5.0M | $88.3M | $173.9M | $166.6M | $42.5M | — | $9.1M | $41.1M | $16.4M | $36.5M |
| Receivables | $210.7M | $252.8M | $176.6M | $193.0M | $28.3M | $26.1M | $9.6M | $24.7M | $28.7M | $28.7M | $17.5M | $13.7M |
| Inventory | $0 | $613.0M | $252.0M | $231.5M | $208.8M | $153.7M | $64.9M | $68.6M | $8.2M | −$41.1M | $346,000 | $167.3M |
| Other current assets | $141.7M | $376.2M | $781.4M | $579.5M | $404.6M | $347.2M | $32.9M | $9.1M | $119.7M | $204.1M | $81.4M | $0 |
| Total current assets | $846.5M | $1.54B | $1.39B | $1.29B | $1.12B | $909.2M | $626.2M | $393.8M | $360.5M | $319.7M | $260.3M | $157.8M |
| Property, plant & equipment (net) | $2.20B | $1.34B | $525.1M | $899.7M | $652.2M | $479.1M | $388.0M | $339.1M | $319.3M | $233.2M | $277.0M | $284.9M |
| Goodwill & intangible assets | $118.7M | $123.7M | $129.2M | $135.0M | $119.0M | $114.1M | $119.1M | $125.2M | $41.4M | $4.7M | $4.8M | $4.9M |
| Long-term investments | $36.0M | $37.9M | $39.3M | $40.8M | $35.1M | $4.5M | $38.0M | $41.6M | $41.7M | $41.1M | $37.8M | $36.5M |
| Other non-current assets | $242.9M | $64.9M | $724.3M | $73.1M | $119.4M | $91.6M | $386.7M | $146.8M | $64.7M | $92.2M | $59.5M | $137.5M |
| Total assets | $3.45B | $3.10B | $2.80B | $2.44B | $2.04B | $1.60B | $1.56B | $1.05B | $827.7M | $691.0M | $639.4M | $621.6M |
| Liabilities | ||||||||||||
| Accounts payable | $177.3M | $133.6M | $119.8M | $78.0M | $76.2M | $50.7M | $31.5M | $36.9M | $36.2M | $25.3M | $32.5M | $25.0M |
| Short-term debt | $530.2M | $566.1M | $763.0M | $570.3M | $457.7M | $294.3M | — | — | $6.6M | $4.5M | $5.3M | — |
| Deferred revenue | $55.7M | $57.6M | $64.4M | $52.5M | $56.9M | $61.0M | — | $111.4M | $119.9M | $130.8M | $49.5M | $148.4M |
| Total current liabilities | $841.0M | $832.0M | $1.52B | $1.44B | $1.08B | $711.1M | $42.9M | $192.3M | $199.6M | $201.3M | $121.2M | $205.1M |
| Long-term debt | $1.32B | $1.38B | $247.3M | $262.1M | $83.4M | $0 | $0 | $92.7M | $37.8M | $22.7M | $22.6M | $22.6M |
| Lease obligations | $110.6M | $108.6M | $98.2M | $91.7M | $92.6M | $85.7M | $78.1M | $78.7M | $79.4M | $75.1M | $70.2M | $71.1M |
| Other long-term liabilities | $178.1M | $162.7M | $168.8M | $165.5M | $168.9M | $92.9M | $1.24B | $240.7M | $110.9M | $75.7M | $163.0M | $75.2M |
| Total liabilities | $2.34B | $2.37B | $1.94B | $1.86B | $1.33B | $804.0M | $1.28B | $525.7M | $348.3M | $299.6M | $306.8M | $302.8M |
| Shareholders' equity | ||||||||||||
| Retained earnings (deficit) | −$786.0M | −$693.7M | −$583.4M | −$653.9M | −$387.3M | −$239.5M | −$649.0M | −$117.1M | −$67.0M | −$49.2M | −$49.9M | −$44.8M |
| Accumulated other comprehensive income | $6,000 | $636,000 | $1.78B | $1.52B | $1.38B | $1.22B | $1.09B | $638.8M | $546.4M | $440.6M | $385.0M | $363.8M |
| Total shareholders' equity | $1.10B | $730.1M | $867.8M | $573.8M | $706.8M | $794.6M | $276.6M | $520.7M | $479.4M | $391.4M | $332.6M | $318.8M |
| Key figures | ||||||||||||
| Total debt | $1.95B | $2.03B | $1.19B | $916.0M | $625.7M | $301.2M | $286.3M | $171.4M | $117.2M | $97.8M | $92.8M | $93.6M |
| Net cash (debt) | −$1.46B | −$1.73B | −$1.01B | −$631.4M | −$152.0M | $81.0M | $232.5M | $119.9M | $86.7M | $30.2M | $68.3M | $40.9M |
| Working capital | $5.4M | $706.0M | −$134.0M | −$147.1M | $33.3M | $198.1M | $583.2M | $201.4M | $160.9M | $118.4M | $139.1M | −$47.3M |
| Tangible book value | $984.1M | $606.4M | $738.6M | $438.9M | $587.7M | $680.5M | $157.5M | $395.5M | $438.0M | $386.6M | $327.8M | $313.8M |
| Book value per share | $4.48 | $3.13 | $3.24 | $2.75 | $3.64 | $3.91 | $1.67 | $3.62 | $3.79 | $3.34 | $2.99 | $2.86 |
| Shares outstanding | 246.3M | 233.4M | 268.1M | 208.6M | 194.0M | 203.5M | 165.4M | 143.8M | 126.5M | 117.0M | 111.1M | 111.3M |
| Current ratio | 1.01 | 1.85 | 0.91 | 0.90 | 1.03 | 1.28 | 14.58 | 2.05 | 1.81 | 1.59 | 2.15 | 0.77 |
| Quick ratio | 0.84 | 0.66 | 0.23 | 0.33 | 0.46 | 0.57 | 12.30 | 1.64 | 1.17 | 0.78 | 1.47 | 0.72 |
| Debt / equity | 1.77 | 2.78 | 1.37 | 1.60 | 0.89 | 0.38 | 1.03 | 0.33 | 0.24 | 0.25 | 0.28 | 0.29 |
| Equity / assets | 32.0% | 23.5% | 30.9% | 23.5% | 34.6% | 49.7% | 17.8% | 49.8% | 57.9% | 56.6% | 52.0% | 51.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed April 30, 2026); data from EODHD.
BTDR financial position
At the end of fiscal 2025 (December 31, 2025), Bitdeer Technologies had total assets of $2.8 billion (up 80.0% from a year earlier), total liabilities of $1.9 billion and shareholders' equity of $867.8 million. It held $176.7 million in cash and short-term investments against $1.2 billion of debt, net debt of $1.0 billion. Its current ratio was 0.91. In the latest quarter (ended June 30, 2026) total assets were $3.4 billion and equity $1.1 billion.
Related: BTDR income statement, BTDR cash flow statement, BTDR key metrics. See the BTDR stock overview for the latest quote and news.
BTDR balance sheet FAQ
What are Bitdeer Technologies's total assets?
Bitdeer Technologies reported total assets of $2.8 billion at the end of fiscal 2025 (December 31, 2025), compared with $1.6 billion a year earlier.
How much debt does Bitdeer Technologies have?
Bitdeer Technologies had $1.2 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.37.
How much cash does Bitdeer Technologies have?
Bitdeer Technologies held $176.7 million in cash and short-term investments at the end of fiscal 2025; with $1.2 billion of debt that is net debt of $1.0 billion.
What is Bitdeer Technologies's book value?
Bitdeer Technologies's shareholders' equity (book value) was $867.8 million at the end of fiscal 2025, or $3.70 per share.
What is Bitdeer Technologies's current ratio?
Bitdeer Technologies had current assets of $1.4 billion and current liabilities of $1.5 billion, a current ratio of 0.91 (current liabilities exceed current assets).
How much goodwill does Bitdeer Technologies have?
Bitdeer Technologies carried $129.2 million of goodwill and intangible assets, 4.6% of total assets, at the end of fiscal 2025.