{"id":38725,"date":"2025-05-15T21:08:11","date_gmt":"2025-05-15T21:08:11","guid":{"rendered":"https:\/\/coincentral.com\/?p=38725"},"modified":"2025-05-15T21:08:11","modified_gmt":"2025-05-15T21:08:11","slug":"bitdeer-technologies-group-btdr-stocksq1-revenue-falls-41-despite-net-income-surge","status":"publish","type":"post","link":"https:\/\/coincentral.com\/bitdeer-technologies-group-btdr-stocksq1-revenue-falls-41-despite-net-income-surge\/","title":{"rendered":"Bitdeer Technologies Group (BTDR) Stocks:Q1 Revenue Falls 41% Despite Net Income Surge"},"content":{"rendered":"<h2>TLDR<\/h2>\n<ul>\n<li>Revenue drops 41 % with Q1 at $70.1 M<\/li>\n<li>Net income hits $409.5 M thanks to $503 M in noncash gains<\/li>\n<li>Self-mining hashrate up 44.8 % while BTC mined falls to 350<\/li>\n<li>SEALMINER R&amp;D triples to $59 M<\/li>\n<li>Stock down 2.56 % after earnings<\/li>\n<\/ul>\n<p>Bitdeer Technologies Group reported a 41.3% revenue drop in Q1 2025 compared to last year&#8217;s quarter. Despite this sharp decline, the company posted a net income of $409.5 million, driven by non-cash gains. The stock closed at $13.73, down 2.56%, and fell further after-hours to $13.51.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-38726\" src=\"https:\/\/coincentral.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-15T235542.610.png\" alt=\"\" width=\"1249\" height=\"642\" srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-15T235542.610.png 1249w, https:\/\/coincentral.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-15T235542.610-300x154.png 300w, https:\/\/coincentral.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-15T235542.610-1200x617.png 1200w, https:\/\/coincentral.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-15T235542.610-131x67.png 131w, https:\/\/coincentral.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-15T235542.610-768x395.png 768w, https:\/\/coincentral.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-15T235542.610-50x26.png 50w, https:\/\/coincentral.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-15T235542.610-150x77.png 150w, https:\/\/coincentral.com\/wp-content\/uploads\/2025\/05\/Screenshot-2025-05-15T235542.610-450x231.png 450w\" sizes=\"(max-width: 1249px) 100vw, 1249px\" \/><\/p>\n<p style=\"text-align: center\"><a href=\"https:\/\/finance.yahoo.com\/quote\/BTDR\/\" target=\"_blank\" rel=\"noopener\">Bitdeer Technologies Group (BTDR)<\/a><\/p>\n<h2>Revenue Down, Margins Suffer<\/h2>\n<p>The company generated $70.1 million in total revenue, falling short of the $119.5 million reported in Q1 2024. The decline came mainly from reduced hosting services and the expiration of cloud mining contracts. Gross profit turned negative at $3.2 million, with a gross margin of -4.6%.<\/p>\n<p><a href=\"https:\/\/coincentral.com\/bitdeer-btdr-stock-crashes-25-reports-532m-q4-loss-while-developing-own-asic-chips\/\" target=\"_blank\" rel=\"noopener\">Bitdeer\u2019s<\/a> Cloud Hash Rate revenue dropped nearly 99% due to reallocating rigs to self-mining operations. General Hosting and Membership Hosting revenues fell 66% and 16.4% after customer downsizing. The April 2024 Bitcoin halving and reduced mining economics drove the changes.<\/p>\n<h2>Self-Mining Expands Amid Headwinds<\/h2>\n<p>Self-mining revenue was $37.2 million, down from $48.4 million last year. However, the average self-mining hashrate rose by 44.8% to 9.7 EH\/s, supported by SEALMINER A1 and A2 deployment. Despite these efforts, total Bitcoins mined declined sharply from 911 to 350 in the quarter.<\/p>\n<p>Operational efficiency declined slightly, with miner efficiency dropping to 29 J\/TH from 31.7 J\/TH year-over-year. Even so, Bitdeer increased its Bitcoin holdings to 1,156, up from 58 a year ago. The company continues to expand its infrastructure to support increased self-mining capacity.<\/p>\n<h2>SEALMINER Development Drives Costs<\/h2>\n<p>R&amp;D expenses nearly tripled to $59 million due to SEALMINER chip development and associated engineering costs. General and administrative expenses held steady at $15.4 million, while selling expenses stayed flat at $1.4 million. The company plans to achieve 40 EH\/s in self-mining capacity by October 2025.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">JUST IN: \ud83d\udcc9<a href=\"https:\/\/twitter.com\/BitdeerOfficial?ref_src=twsrc%5Etfw\">@BitdeerOfficial<\/a> reveals Q1 2025 financial results, showing a net income of $409.5M, a significant jump from $0.6M last year, despite a revenue drop to $70.1M. Gross profit turned negative at $3.2M. Company targets 40 EH\/s hashrate by Oct 2025. <a href=\"https:\/\/twitter.com\/search?q=%24BTDR&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTDR<\/a> <a href=\"https:\/\/t.co\/BRgMZFjMnZ\">pic.twitter.com\/BRgMZFjMnZ<\/a><\/p>\n<p>&mdash; Bitcoin Mining Stock (@miningstockinfo) <a href=\"https:\/\/twitter.com\/miningstockinfo\/status\/1922971407270453693?ref_src=twsrc%5Etfw\">May 15, 2025<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Total operating expenses reached $75.8 million, more than double from a year earlier. Despite these costs, <a href=\"https:\/\/blockonomi.com\/tether-invests-additional-32-million-in-bitcoin-miner-bitdeer-during-market-slump\/\" target=\"_blank\" rel=\"noopener\">Bitdeer<\/a> reported a $503.1 million gain from fair value derivative changes. These gains, tied to Tether warrants and convertible notes, significantly boosted net income.<\/p>\n<h2>Cash Flow and Capex Adjustments<\/h2>\n<p>Operating cash outflows totaled $284 million, driven by supplier payments for SEALMINER mass production. The company spent $73.6 million on investing activities, including $18.2 million on cryptocurrency purchases. Financing activities brought in $94.9 million, primarily from issuing new shares.<\/p>\n<p>Capex guidance for 2025 was reduced to $260\u2013$290 million, down from $340\u2013$370 million. This change came after construction at the Ohio site was paused due to AI-related development discussions. Cash and equivalents stood at $215.6 million, while cryptocurrencies were valued at $131.1 million.<\/p>\n<h2>Stock Performance and Outlook<\/h2>\n<p><a href=\"https:\/\/moneycheck.com\/tether-ramps-up-investment-in-bitcoin-miner-bitdeer-despite-industry-slump\/\" target=\"_blank\" rel=\"noopener\">Bitdeer<\/a> shares have gained 116.21% over the past year but declined 14.61% in the last three months. The company saw four negative EPS revisions over the previous 90 days and reported a Q1 loss of $0.37 per share. Despite weak near-term financial health, management remains focused on expanding mining efficiency and AI opportunities.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TLDR Revenue drops 41 % with Q1 at $70.1 M Net income hits $409.5 M thanks to $503 M in noncash gains Self-mining hashrate up 44.8 % while BTC mined falls to 350 SEALMINER R&amp;D triples to $59 M Stock down 2.56 % after earnings Bitdeer Technologies Group reported a 41.3% revenue drop in Q1<\/p>\n","protected":false},"author":9006,"featured_media":26723,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"iawp_total_views":28,"footnotes":""},"categories":[1,28152],"tags":[],"class_list":{"0":"post-38725","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"category-stocks"},"wppr_data":{"cwp_meta_box_check":"No"},"yoast_head":"<!-- This site is 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