Bitdeer Technologies Group released its unaudited financial results for the second quarter ended June 30, 2025, reporting record revenue of US$155.6 million. This represents a 56.8% increase year-over-year and a 121.9% sequential increase, primarily driven by US$69.5 million in revenue from the external sale of proprietary SEALMINER A2 rigs.
The company reported a net loss of US$147.7 million for the quarter, which was largely influenced by non-cash, fair value changes on derivative liabilities. Despite this, management highlighted Q2 as a key inflection point, validating the vertical integration thesis through strong hardware sales.
Operationally, Bitdeer is on track to achieve 40 EH/s of self-mining by the end of October and expects to exceed this target by year-end due to improved wafer supply allocation. R&D efforts are focused on the SEALMINER A4 project, targeting an unprecedented chip efficiency of approximately 5 J/TH. The company also energized 361 MW of datacenter capacity year-to-date, bringing total available electrical capacity to approximately 1.3 GW, and entered advanced negotiations for HPC/AI opportunities at its Clarington, Ohio site.
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