Summary
- Bitdeer reported a $266.7 million net loss in Q3.
- Revenue surged 174% year-on-year, and Bitcoin mining volume also more than doubled.
- However, the stock plunged 20% immediately after the earnings announcement, with the market focusing on large non-cash losses and future investment risks.
Singapore-based Bitcoin (BTC) miner Bitdeer Technologies saw its stock fall by nearly 20% after recording large losses in the third quarter.
On the 11th (local time), Cointelegraph reported that Bitdeer recorded a net loss of $266.7 million for Q3 2025. The loss widened more than fivefold compared with a $50.1 million loss in the same period last year, and this is analyzed as being mainly due to non-cash factors such as valuation losses on convertible bonds.
Meanwhile, revenue jumped 174% year-on-year to $169.7 million. Expansion of its Bitcoin mining business and an increase in hashrate drove the improvement in results. Bitdeer mined 1,109 Bitcoins in Q3, more than double a year earlier. The number of Bitcoins held rose to 2,029, and the number of mining rigs under management increased to 241,000 from 165,000 a year earlier, up 46%.
Meanwhile, Bitdeer's stock plunged about 20% immediately after the results announcement, hitting a six-month low. The outlet analyzed, "Despite revenue growth, the market is focusing on large non-cash losses and future investment risks."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
