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Shares of Singapore-based Bitcoin miner Bitdeer Technologies fell astir 20% connected Monday aft the institution reported a leap successful quarterly losses.
Bitdeer recorded a nett nonaccomplishment of $266.7 cardinal for the 3rd 4th of 2025, compared with a nett nonaccomplishment of $50.1 cardinal for the aforesaid play a twelvemonth ago, mostly owed to non-cash losses resulting from the revaluation of its convertible debt.
Revenue climbed to $169.7 million, up 174% from the erstwhile year, driven by the enlargement of its self-mining operations, according to the company.
BTDR closing terms connected Monday. Source: Google Finance
Bitdeer besides reported gains successful its operating performance, with adjusted EBITDA rising to $43 cardinal from a $7.9 cardinal nonaccomplishment successful the aforesaid play successful 2024. The institution besides doubled its Bitcoin production, mining 1,109 BTC during the quarter.
Bitdeer reported its archetypal gross from high-performance and AI unreality services, bringing successful $1.8 cardinal successful Q3 arsenic it began shifting portion of its computing powerfulness toward artificial intelligence.
Matt Kong, main concern serviceman astatine Bitdeer, said the institution was “uniquely positioned to capitalize” connected AI and the surge successful request for computing power. He added that allocating “200 MW of powerfulness capableness to AI unreality services could make an annualized gross run-rate exceeding $2 cardinal by the extremity of 2026.”
Bitdeer ended the 4th holding 2,029 BTC, up from 258 BTC a twelvemonth earlier, and managed 241,000 mining rigs, compared with 165,000 astatine the aforesaid clip past year.
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Bitcoin miners crook to AI
An expanding fig of Bitcoin mining companies are pivoting to AI and high-performance computing (HPC), repurposing a information of their powerfulness capableness to conscionable the fast-growing request for computing power.
In August, MARA Holdings announced a $168 cardinal woody to acquire a 64% involvement successful Exaion, a subsidiary of France’s EDF, to grow into low-carbon AI infrastructure, portion TeraWulf signed 10-year colocation agreements with AI institution Fluidstack worthy $3.7 cardinal successful declaration revenue.
On Nov. 3, Bitcoin miner IREN announced a five-year, $9.7 cardinal GPU cloud services woody with Microsoft, giving the tech elephantine entree to Nvidia GB300 chips hosted successful IREN’s information centers.
Top 10 publically listed Bitcoin miners by marketplace cap. Source: Companiesmarketcap.comWhile the pivot by Bitcoin miners into AI and HPC has been picking up momentum this year, it isn’t wholly new.
In July 2023, HIVE Blockchain Technologies rebranded arsenic HIVE Digital Technologies, reflecting its displacement to an HPC strategy, alongside its accepted cryptocurrency mining operations.
In March 2024, Core Scientific signed a multi-year, $100 cardinal deal with GPU unreality steadfast CoreWeave to big HPC workloads astatine its Texas information center.
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