After posting a first quarter where revenue declined, bitcoin miner Bitdeer Technologies Group (ticker BTDR) reported revenue growth for the second quarter of this year.
Bitdeer’s bitcoin mining division reported revenue of $59.3 million, a 43% gain when compared to the previous year of $41.6 million, according to a statement released Monday. Overall, the company’s second-quarter revenue rose 56.8% year-over-year after Bitdeer reported $155.6 million in total revenue versus $99.2 million for the same period in 2024.
The market appeared to approve of Bitdeer’s quarterly results as the company’s shares closed at $14.36, a more than 7% gain on the day, according to The Block’s price page. In the first quarter of this year, Bitdeer reported a sharp decline in revenue.
“Q2 marked a key inflection point,” Bitdeer’s Chief Business Officer Matt Kong said in a statement. “Looking forward, we anticipate continued rapid growth in our self-mining hashrate throughout the remainder of the year and we are well on track to achieve our 40 EH/s target by the end of October.”
The company said its mining revenue growth can be attributed to both higher bitcoin prices and “the increase in the average self-mining hashrate for the quarter by 103.3% to 14.2 EH/s from 7.0 EH/s last year.”
Following the trend of many companies, both deeply invested in crypto and otherwise, Bitdeer’s BTC holdings have also increased substantially since last year. The company said it held 1,502 bitcoins ($175 million) at the end of the fiscal period, versus 115 BTC for the prior-year period.
In June, the bitcoin miner aimed to raise between $320 million and $360 million from a convertible note offering. Bitdeer said it planned to use about $160 million to pay off zero-strike call options and cash consideration for note exchanges, with the rest going towards the financing of ASIC mining rig expansions, working capital, and general company purposes.
Bitdeer has its headquarters in Singapore while maintaining mining data centers in the United States, Norway, and Bhutan.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
