Bitdeer clocks declining year-over-year revenues in Q1

Bitdeer Technologies Group showed 41% year -on -year decline in revenue to $ 70.1 million in the first quarter of 2025, said Bitcoin Horník 15 May.

The Singapore company recorded an operating loss of $ 3.2 million for quarter, out of the profit of $ 34.1 million during the same period last year, its earnings said.

Bitdeer, however, showed net income from Q1 in the amount of more than $ 400 million, which is largely driven by profits from convertible notes and orders issued to Stablecoin Emitener Tether in 2024.

The decline in Bitdeer’s income comes when miners are increasingly expanding for bitcoins (BTC) Mining and rotating towards the supply of high -performance computers (HPC) for artificial intelligence applications.

“When we scalance that we are trying and performing on our ASIC.” [mining hardware] Roadmap, also promoting plans for US HPC and AI infrastructure, ”said Matt Kong, Chief Sales Director of Bitdeer, in his statement.

Bitcoin miners, however, still try to adapt after half a bitcoin network that effectively reduces mining revenues.

Bitdeer tries to balance the suffering of mining income by selling its own energy -efficient bitcoin mining hardware. However, sales are still scaling and lost income from mining has not yet been created.

Related: Bitfarms CLOCKS 36 million net losses in moving from bitcoins to AI

Self-ramp-up

The company also increases mining activities that include the use of mining hardware to accumulate bitcoins themselves.

Bitdeer expects its HASHRATE Institute to reach 40 Exahahes per second (Eh/S) by the end of 2025, according to his earnings. HASHRATE is a computing performance rate ensuring a bitcoin network.

“Since our Sealminer mining trains are coming from the production line and sufficient global energy capacity available, we expect to achieve rapid growth of our Hasat,” Kong said.

Since March, Tether owned a 21% share in Bitdeer, according to for US regulatory submission.

Bitdeer was reportedly Investing in its American expansion as a hedge against the prospect of a deteriorating trade wars.

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