Mining Company Bitdeer in Crisis? Q1 Revenue Plummets 41% Amid Energy Woes - Crypto Economy

Bitdeer clocks declining year-over-year revenues in Q1 – #CryptoUpdatesGNIT

Bitdeer Technologies Group reported a 41% year-over-year drop in revenue to $70.1 million for the first quarter of 2025, the Bitcoin miner said on May 15.  The Singaporean company clocked an operating loss of $3.2 million for the quarter, down from a $34.1 million profit during the same period last year, its earnings release said.  However, Bitdeer reported a Q1 net income of more than $400 million, largely driven by gains on convertible notes a…

Mining Company Bitdeer in Crisis? Q1 Revenue Plummets 41% Amid Energy Woes - Crypto Economy

TL;DR Bitdeer Technologies Group reported a 41% drop in quarterly revenue due to rising electricity costs at its mining site in Bhutan. Despite operational losses, the company managed to secure over $400 million in net profit thanks to fair value adjustments on derivatives. Bitdeer is preparing for a rebound by expanding its global energy infrastructure and increasing its mining capacity. Bitdeer, one of the world’s leading Bitcoin mining compa…