Bitcoin miner Bitdeer's Q2 loss widens despite 57% jump in revenue

Bitdeer Technologies

18/08/2025 12:28

Overview

Bitdeer Q2 revenue rises 56.8% yr/yr, beating analysts' expectations, per LSEG data

Adjusted EBITDA of $17.3 mln beats estimates

Net loss widens to $147.7 mln from $17.7 mln a year earlier, mainly due to non-cash, fair value changes of derivative liabilities

Outlook

Company expects self-mining hashrate to exceed 40 EH/s by year-end

Bitdeer anticipates over 1.6 GW datacenter capacity by year-end

Company sees improved wafer supply supporting growth

Bitdeer optimistic about Clarington, Ohio HPC/AI site negotiations

Result Drivers

SELF-MINING GROWTH - Significant increase in self-mining hash rate drove revenue growth, per Chief Business Officer Matt Kong

SEALMINER SALES - External sales of SEALMINER A2s contributed $69.5 mln to revenue

COST INCREASES - Higher costs for SEALMINERs, depreciation, and staffing impacted gross profit margins

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$155.60 mln
$100.90 mln (10 Analysts)
Q2 Net Income
Miss
-$147.70 mln
-$5.90 mln (4 Analysts)
Q2 Adjusted EBITDA
Beat
$17.30 mln
$15.50 mln (9 Analysts)
Q2 Gross Profit
$12.80 mln
Q2 Operating Expenses
$42.30 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the blockchain & cryptocurrency peer group is "buy"

Wall Street's median 12-month price target for Bitdeer Technologies Group is $21.50, about 37.7% above its August 15 closing price of $13.39

The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 19 three months ago

Press Release: ID:nGNX74tc1f

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)