Bitdeer Technologies Group (NASDAQ:BTDR) Reports Q2 2025 Revenue Beat Despite Wider Loss, Shares Surge 6% in Pre-Market

Bitdeer Technologies Group (NASDAQ:BTDR) reported its unaudited financial results for the second quarter of 2025, delivering revenue and earnings figures that significantly diverged from analyst expectations. The market reaction has been notably positive in pre-market trading, with shares rising over 6%, suggesting investor optimism despite a wider-than-expected net loss.

Key Financial Highlights vs. Estimates

• Revenue: $155.6 million, up 56.8% year-over-year and 121.9% sequentially, surpassing analyst estimates of $103.0 million.
• Earnings Per Share (EPS): Reported a loss of $0.76 per share, deeper than the estimated loss of $0.1054.
• Gross Profit: $12.8 million, down from $24.4 million in Q2 2024, with margins narrowing to 8.2% from 24.6%.

The substantial revenue beat was driven by strong performance in self-mining operations and $69.5 million in external sales of SEALMINER A2 mining rigs. However, higher costs—particularly from SEALMINER production, depreciation, and operating expenses—weighed on profitability.

Market Reaction

The pre-market surge indicates that investors are focusing on the revenue growth and operational milestones rather than the net loss. The company’s progress in scaling its self-mining capacity (targeting 40 EH/s by October) and expansion into high-performance computing (HPC) and AI likely contributed to bullish sentiment.

Operational and Strategic Updates

• Self-Mining Growth: Proprietary hash rate increased to 16.7 EH/s, up from 8.5 EH/s in Q2 2024.
• Power Infrastructure: Total energized capacity reached ~1.3 GW, with plans to exceed 1.6 GW by year-end.
• R&D Focus: Development of the SEALMINER A4, targeting ultra-efficient 5 J/TH chip performance.
• HPC/AI Expansion: Advanced negotiations for a 570 MW site in Clarington, Ohio, signaling diversification beyond Bitcoin mining.

Forward Outlook vs. Analyst Estimates

While Bitdeer did not provide explicit forward guidance, analysts project:

• Q3 2025 Revenue: $147.9 million (vs. $155.6 million in Q2).
• Full-Year 2025 Revenue: $518.3 million.
• EPS Forecasts: Q3 loss of $0.0204 per share, full-year loss of $0.3774.

The company’s aggressive infrastructure expansion and efficiency improvements could position it to outperform these estimates, particularly if Bitcoin prices stabilize or rise.

Conclusion

Bitdeer’s Q2 results reflect strong top-line execution but ongoing cost pressures. The market’s positive reaction suggests confidence in its long-term growth strategy, particularly in mining efficiency and HPC/AI initiatives.

For detailed earnings estimates and historical performance, visit Bitdeer’s earnings page.

Disclaimer: This article is not investment advice. Investors should conduct their own research before making decisions.