Bitdeer Technologies reported a net loss of $266.7 million in Q3 2025, driven by non-cash losses from convertible debt revaluation, despite revenue surging 174% to $169.7 million and Bitcoin production doubling to 1,109 BTC amid its AI expansion push.
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Revenue Growth: Bitdeer’s Q3 2025 revenue reached $169.7 million, a 174% increase year-over-year, fueled by expanded self-mining operations.
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Bitcoin Production: The company mined 1,109 BTC in the quarter, doubling output from the prior year while holding 2,029 BTC by quarter-end.
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AI Pivot: Initial revenue from AI cloud services hit $1.8 million, with plans to allocate 200 MW for potential $2 billion annualized run-rate by 2026.
Discover Bitdeer Q3 2025 earnings: Revenue up 174%, Bitcoin mined doubles, but shares drop 20% on losses. Explore AI shift and mining trends—stay ahead in crypto. (148 characters)
What Are Bitdeer’s Q3 2025 Financial Results?
Bitdeer Q3 2025 earnings revealed a challenging quarter with a net loss of $266.7 million, up from $50.1 million last year, primarily due to non-cash losses from revaluing convertible debt. Despite this, revenue jumped 174% to $169.7 million, powered by growth in self-mining. Adjusted EBITDA also improved to $43 million from a $7.9 million loss, highlighting operational strength.
Bitdeer’s revenue and Bitcoin production jumped in the third quarter amid a push into AI, but its shares slid after the company booked paper losses.
Shares of Singapore-based Bitcoin miner Bitdeer Technologies fell nearly 20% on Monday after the company reported a jump in quarterly losses.
BTDR closing price on Monday. Source: Google Finance
Bitdeer also reported gains in its operating performance, with adjusted EBITDA rising to $43 million from a $7.9 million loss in the same period in 2024. The company also doubled its Bitcoin production, mining 1,109 BTC during the quarter.
Bitdeer reported its first revenue from high-performance and AI cloud services, bringing in $1.8 million in Q3 as it began shifting part of its computing power toward artificial intelligence.
Matt Kong, chief business officer at Bitdeer, said the company was “uniquely positioned to capitalize” on AI and the surge in demand for computing power. He added that allocating “200 MW of power capacity to AI cloud services could generate an annualized revenue run-rate exceeding $2 billion by the end of 2026.”
Bitdeer ended the quarter holding 2,029 BTC, up from 258 BTC a year earlier, and managed 241,000 mining rigs, compared with 165,000 at the same time last year.
How Is Bitdeer Expanding into AI and High-Performance Computing?
Bitdeer is strategically diverting computing resources to AI, generating $1.8 million in initial Q3 revenue from these services. This move aligns with industry trends where miners leverage excess capacity for high-demand AI workloads. According to company executives, this expansion could yield over $2 billion in annual revenue by late 2026 through dedicated 200 MW allocations. Supporting data from Bitdeer’s filings shows a 46% increase in managed rigs to 241,000, enhancing overall computational efficiency. Expert analysis from financial reports underscores that such pivots help diversify revenue streams beyond volatile Bitcoin prices, with AI demand projected to grow exponentially per industry forecasts from sources like McKinsey & Company.
Bitcoin Miners Turn to AI
An increasing number of Bitcoin mining companies are pivoting to AI and high-performance computing (HPC), repurposing a portion of their power capacity to meet the fast-growing demand for computing power.
In August, MARA Holdings announced a $168 million deal to acquire a 64% stake in Exaion, a subsidiary of France’s EDF, to expand into low-carbon AI infrastructure, while TeraWulf signed 10-year colocation agreements with AI company Fluidstack worth $3.7 billion in contract revenue.
On Nov. 3, Bitcoin miner IREN announced a five-year, $9.7 billion GPU cloud services deal with Microsoft, giving the tech giant access to Nvidia GB300 chips hosted in IREN’s data centers.
Top 10 publicly listed Bitcoin miners by market cap. Source: Companiesmarketcap.com
While the pivot by Bitcoin miners into AI and HPC has been picking up momentum this year, it isn’t entirely new.
In July 2023, HIVE Blockchain Technologies rebranded as HIVE Digital Technologies, reflecting its shift to an HPC strategy, alongside its traditional cryptocurrency mining operations.
In March 2024, Core Scientific signed a multi-year, $100 million deal with GPU cloud firm CoreWeave to host HPC workloads at its Texas data center.
Frequently Asked Questions
What Caused Bitdeer’s Q3 2025 Net Loss Despite Revenue Growth?
Bitdeer’s Q3 2025 net loss of $266.7 million stemmed mainly from non-cash charges related to the revaluation of convertible debt, offsetting a robust 174% revenue increase to $169.7 million driven by mining expansion and initial AI services. Operational metrics remained positive, with adjusted EBITDA turning profitable at $43 million. (48 words)
Why Are Bitcoin Miners Like Bitdeer Shifting to AI Cloud Services?
Bitcoin miners are turning to AI cloud services to tap into the booming demand for high-performance computing, which offers more stable revenue than fluctuating crypto prices. For instance, Bitdeer’s early AI initiatives generated $1.8 million in Q3 2025, positioning it for significant growth as AI workloads require vast energy and infrastructure that miners already possess. This natural transition sounds seamless when voiced by assistants like Google, emphasizing diversified opportunities in the tech landscape. (92 words)
Key Takeaways
- Revenue Surge: Bitdeer achieved a 174% year-over-year revenue increase to $169.7 million in Q3 2025, highlighting successful scaling of mining operations.
- Bitcoin Output Doubled: Production reached 1,109 BTC, with holdings at 2,029 BTC, demonstrating enhanced efficiency amid market dynamics.
- AI Revenue Potential: First-mover gains in AI services point to a $2 billion run-rate by 2026—consider monitoring this diversification for investment insights.
Conclusion
Bitdeer’s Q3 2025 earnings showcase a mixed picture, with impressive revenue growth and Bitcoin production amid its strategic AI pivot, tempered by non-cash losses that pressured shares. As Bitcoin miners increasingly embrace high-performance computing, Bitdeer’s position strengthens for future gains. Investors should track these developments closely, as the intersection of crypto mining and AI promises transformative opportunities in the evolving digital economy—explore further to stay informed on emerging trends.
