On August 10, Bitdeer Technologies Group declined 8.32% in regular trading, trading near $9.90 per share with turnover of approximately $38.53 million.

The sell-off was triggered by the company's Q2 earnings report released pre-market. Adjusted loss per share came in at $2.08, dramatically missing the analyst consensus estimate of $0.36 loss — a negative deviation of 477.78% and representing a 1,500% widening from the $0.13 adjusted loss in the year-ago quarter. Revenue of $228.8 million, while up from $155.6 million a year earlier, fell short of one estimate of $235.9 million. On a GAAP basis, net loss of $0.37 per share was better than FactSet's $0.42 estimate, but the massive adjusted loss overshadowed this relative bright spot.

The earnings disappointment follows a pattern of adjusted EPS misses, with Q1 also reporting a $0.46 adjusted loss versus the $0.37 expected. The decline comes despite recent positive developments including a $4.7 billion data center contract in Norway and a Cantor Fitzgerald upgrade to Overweight with a $15 price target issued just days earlier.

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