Bitdeer Technologies Group's stock surged 5.07% during intraday trading on Thursday, following the release of its first-quarter 2026 financial results.

The company reported revenue of $188.93 million, which exceeded the consensus estimate of $187.27 million and represented a significant 169.4% increase compared to the same quarter last year. This robust growth was primarily driven by a major expansion in the company's self-mining operations, with the average self-mining hashrate increasing substantially due to the mass deployment of new mining rigs.

Despite posting a net loss for the quarter that was larger than analysts had anticipated, investors appeared to focus on the strong top-line performance and the company's strategic progress in building its AI infrastructure platform, including the activation of its Tydal facility in Norway and growth in its AI Cloud business.