BTDR vs. RIOT

Last updated Apr 1, 2026

Compare and contrast key facts about Bitdeer Technologies Group Class A Ordinary Shares (BTDR) and Riot Blockchain, Inc. (RIOT).

Performance

BTDR vs. RIOT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitdeer Technologies Group Class A Ordinary Shares (BTDR) and Riot Blockchain, Inc. (RIOT). The values are adjusted to include any dividend payments, if applicable.

BTDR vs. RIOT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BTDR Bitdeer Technologies Group Class A Ordinary Shares	-22.84%	-48.27%	119.78%	-1.40%
RIOT Riot Blockchain, Inc.	-2.45%	24.09%	-34.00%	14.59%

Fundamentals

EPS BTDR : $0.29 RIOT : $0.42
PE Ratio BTDR : 29.48 RIOT : 29.61
PS Ratio BTDR : 3.12 RIOT : 7.62
Total Revenue (TTM) BTDR : $620.25M RIOT : $637.16M
Gross Profit (TTM) BTDR : $60.99M RIOT : $251.99M
EBITDA (TTM) BTDR : -$223.07M RIOT : $703.12M

Returns By Period

In the year-to-date period, BTDR achieves a -22.84% return, which is significantly lower than RIOT's -2.45% return.

BTDR

• 1D: 9.77%
• 1M: 12.34%
• YTD: -22.84%
• 6M: -49.39%
• 1Y: -2.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

RIOT

• 1D: 4.48%
• 1M: -24.13%
• YTD: -2.45%
• 6M: -35.05%
• 1Y: 73.60%
• 3Y*: 7.35%
• 5Y*: -24.98%
• 10Y*: 18.08%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

BTDR vs. RIOT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BTDR

BTDR Risk / Return Rank: 43
BTDR Sharpe Ratio Rank: 41
BTDR Sortino Ratio Rank: 49
BTDR Omega Ratio Rank: 47
BTDR Calmar Ratio Rank: 40
BTDR Martin Ratio Rank: 39

RIOT

RIOT Risk / Return Rank: 70
RIOT Sharpe Ratio Rank: 72
RIOT Sortino Ratio Rank: 72
RIOT Omega Ratio Rank: 67
RIOT Calmar Ratio Rank: 70
RIOT Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BTDR vs. RIOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitdeer Technologies Group Class A Ordinary Shares (BTDR) and Riot Blockchain, Inc. (RIOT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BTDR	RIOT	Difference
Sharpe ratio Return per unit of total volatility	-0.02	0.88	-0.90
Sortino ratio Return per unit of downside risk	0.75	1.64	-0.90
Omega ratio Gain probability vs. loss probability	1.09	1.19	-0.11
Calmar ratio Return relative to maximum drawdown	-0.07	1.38	-1.45
Martin ratio Return relative to average drawdown	-0.14	2.87	-3.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTDR vs. RIOT - Sharpe Ratio Comparison

The current BTDR Sharpe Ratio is -0.02, which is lower than the RIOT Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of BTDR and RIOT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BTDR	RIOT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.02	0.88	-0.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.26	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.16	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.04	-0.16	+0.12

Correlation

The correlation between BTDR and RIOT is 0.57, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

BTDR vs. RIOT - Dividend Comparison

Neither BTDR nor RIOT has paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BTDR Bitdeer Technologies Group Class A Ordinary Shares	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RIOT Riot Blockchain, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.52%

Drawdowns

BTDR vs. RIOT - Drawdown Comparison

The maximum BTDR drawdown since its inception was -79.52%, smaller than the maximum RIOT drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for BTDR and RIOT.

Drawdown Indicators

	BTDR	RIOT	Difference
Max Drawdown Largest peak-to-trough decline	-79.52%	-99.98%	+20.46%
Max Drawdown (1Y) Largest decline over 1 year	-71.89%	-48.57%	-23.32%
Max Drawdown (5Y) Largest decline over 5 years	—	-94.45%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-98.32%	—
Current Drawdown Current decline from peak	-66.86%	-99.61%	+32.75%
Average Drawdown Average peak-to-trough decline	-43.41%	-87.75%	+44.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	37.83%	23.25%	+14.58%

Volatility

BTDR vs. RIOT - Volatility Comparison

Bitdeer Technologies Group Class A Ordinary Shares (BTDR) has a higher volatility of 26.27% compared to Riot Blockchain, Inc. (RIOT) at 25.00%. This indicates that BTDR's price experiences larger fluctuations and is considered to be riskier than RIOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTDR	RIOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.27%	25.00%	+1.27%
Volatility (6M) Calculated over the trailing 6-month period	78.31%	62.56%	+15.75%
Volatility (1Y) Calculated over the trailing 1-year period	103.71%	84.48%	+19.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	124.03%	95.49%	+28.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	124.03%	112.36%	+11.67%

Financials

BTDR vs. RIOT - Profitability Comparison

The chart below illustrates the profitability comparison between Bitdeer Technologies Group Class A Ordinary Shares and Riot Blockchain, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

BTDR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Bitdeer Technologies Group Class A Ordinary Shares reported a gross profit of 10.57M and revenue of 224.84M. Therefore, the gross margin over that period was 4.7%.

RIOT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Riot Blockchain, Inc. reported a gross profit of 70.76M and revenue of 180.23M. Therefore, the gross margin over that period was 39.3%.

BTDR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Bitdeer Technologies Group Class A Ordinary Shares reported an operating income of 109.35M and revenue of 224.84M, resulting in an operating margin of 48.6%.

RIOT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Riot Blockchain, Inc. reported an operating income of 80.05M and revenue of 180.23M, resulting in an operating margin of 44.4%.

BTDR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Bitdeer Technologies Group Class A Ordinary Shares reported a net income of 70.54M and revenue of 224.84M, resulting in a net margin of 31.4%.

RIOT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Riot Blockchain, Inc. reported a net income of 104.48M and revenue of 180.23M, resulting in a net margin of 58.0%.