Bitcoin Miner Bitdeer Posts $228.8M Q2 Revenue

Crypto News

Bitcoin mining company Bitdeer Technologies reported second-quarter revenue of $228.8 million, a 47% increase from $155.6 million a year earlier and 21.1% above the prior quarter. The company’s investor-relations disclosure shows operating costs reached $237.3 million, up from $143.6 million in the same period of 2025, though the sequential increase from the first quarter’s $228 million was only 4.1%. Cost of sales rose 65.3% year over year, outpacing revenue growth as Bitdeer deployed new machines and expanded data-center capacity. The result was a gross loss of $8.5 million, compared with a $12 million gross profit in the second quarter of 2025 and a $39 million gross loss in the first quarter of 2026. Net loss narrowed to $92.3 million from $159.5 million in the prior quarter. Self-mining remained the main revenue engine, generating $168.4 million as average self-mining hashrate climbed 389.4% to 69.5 exahashes per second. AI cloud revenue increased to $14 million from $1.3 million. Electricity spending for self-mining reached $84.7 million, while depreciation and equity-based compensation totaled $79.8 million. Management also highlighted a 16-year, $4.7 billion lease with Norway’s Volta for a Tydal AI and high-performance computing facility. Bitdeer ended June with $496.3 million in cash and restricted cash, and has started a $36 million SEALMINER assembly plant in Sparks, Nevada, as it diversifies beyond Bitcoin block production.

South Korean payment-infrastructure firm NHN KCP reported second-quarter consolidated operating profit of 15.4 billion won, up 24.8% from a year earlier, extending the growth trend seen in the first quarter. The company’s preliminary filing says revenue reached 383.4 billion won, a 27.5% annual increase, while net profit rose 35.9% to 13 billion won. The disclosure did not break out revenue by business unit or explain specific cost movements, limiting visibility into which services drove the expansion. NHN KCP operates electronic payment rails for online and offline merchants, along with identity verification, cash-receipt processing, payment agency and online VAN services, the infrastructure that routes card approvals between merchants and card networks. That positioning makes its results a useful proxy for digital-commerce transaction volumes rather than a direct crypto-market indicator. The filing gives no segment breakdown that would isolate any digital-asset or token-incentive line, such as an airdrop, keeping the report focused on conventional payment processing. In the first quarter, operating profit had been 13.8 billion won, revenue 344.9 billion won and net profit 16.2 billion won, so the second quarter improved sequentially on sales and operating profit but recorded a lower net profit. For the previous full year, the company posted 54.7 billion won in operating profit, 1.2349 trillion won in revenue and 45.8 billion won in net income.

Ethereum treasury company SharpLink said its second-quarter net loss reached $394.3 million, even as revenue rose roughly elevenfold to $11.5 million from $0.7 million a year earlier. The company’s earnings statement attributes most of the loss to noncash fair-value marks: a $321 million unrealized loss on Ethereum and a further $76.1 million writedown on liquid-staking positions LsETH and weETH, an altcoin exposure tied to staked ETH. US GAAP marks reduce the book value of holdings but do not change the token count, and SharpLink said realized gains partially offset the paper losses. Staking rewards produced $11.2 million of quarterly revenue, reflecting the full-quarter effect of the active treasury strategy introduced on June 2, 2025. Operating expenses increased to $9.1 million from $2.4 million as the company added staff, custody, insurance, legal and accounting costs. SharpLink held about 886,881 ETH at the end of June and 888,938 ETH by August 3, valued near $1.4 billion at quarter-end under GAAP. It also completed a $75 million direct offering, used part of the proceeds to buy about 10,000 ETH at an average price near $1,611, repurchased 2.1 million shares for roughly $10 million, added SBET to Russell’s 2000 and 3000 indexes in June and later launched a $125 million Galaxy SharpLink Blockchain Yield Fund. The stock fell 6% to $6.05 after the report.

Taken together, these filings show how crypto exposure is moving from speculative narratives into operating statements. Bitdeer’s report ties Bitcoin mining economics to power costs, hashrate growth and an AI data-center lease, while SharpLink’s disclosure shows how Ethereum treasury accounting can produce a $394.3 million quarterly loss without changing token holdings. NHN KCP adds a payments-rail view, where fee-based commerce growth can be monitored even without direct token balances. The load-bearing evidence is the companies’ own investor-relations documents, which state revenue, writedowns and holdings directly. For market participants, the key variable is not whether prices reach another all-time-high or whether an AI trading bot promises alpha, but whether treasury and infrastructure cash flows survive drawdowns.