Why is Bitdeer Technologies stock rallying after the close today?

Bitdeer Technologies stock rose 4.7% in after-hours trading after the company released its September 2026 unaudited production and operations update, revealing a 200% year-over-year jump in Bitcoin output to 1,355 coins and announcing that offtake commitments now cover more than 70% of its A201 data center in Johor Bahru, Malaysia, representing over $1.7 billion in expected revenue over five years and pushing the total AI Cloud revenue backlog to approximately $2.9 billion.

CFO Michael Potter stated, "September demonstrated our ability to convert owned power into contracted AI Cloud revenue," and added that the company’s collaboration with NVIDIA on enterprise agent safety and a land acquisition near its Rockdale site further reinforce the platform under construction. The self-mining hash rate also climbed to 82.3 EH/s in September — more than double the 35.0 EH/s recorded a year earlier — underscoring the scale of operational expansion underpinning both the Bitcoin and AI businesses.

The after-hours catalyst arrived against a broadly supportive market backdrop: the Nasdaq Composite gained approximately 1.1% during the regular session as technology stocks rebounded from their worst weekly performance since June, while the S&P 500 advanced roughly 0.4%. The recovery in AI-adjacent and semiconductor names helped set a positive tone heading into what is shaping up to be a busy corporate earnings week.

Together, the combination of record Bitcoin production, a rapidly expanding AI Cloud backlog now approaching $3 billion, and a recovering tech market created a compelling setup for Bitdeer shares to trade higher in after-hours, with the stock reaching $8.05 — still a significant discount to its 52-week high of $26.81 but notably above its 52-week low of $6.92.