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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Why a ‘Mobile-First’ Mentality Drove OpenSea’s Latest Acquisition

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  • Guides
    What Is Copy Trading in Crypto? A Beginner’s Guide

    What Is Copy Trading in Crypto? A Beginner’s Guide

    A Step-by-Step Guide for Risk-Takers

    A Step-by-Step Guide for Risk-Takers

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    What is Spot Trading in Crypto? A Beginner’s Guide to How It Works

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    How It Works and What to Watch Out For

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    Crypto Risk Management Strategies for Trading (2025)

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    What is Dollar-Cost Averaging (DCA) in Crypto? A Beginner’s Guide

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    What Is Liquid Staking? How It Works & Why It Matters in Crypto

    A Full Comparison of Layer 2 Solutions

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  • Analysis
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    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

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    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

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    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

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    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

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    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

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    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
  • Home
  • Crypto
    • Bitcoin
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  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    Enhancing Security in Online Gambling with Blockchain Technology

    Enhancing Security in Online Gambling with Blockchain Technology

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

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    Volume Plunges While Transactions Soar

    Snoop Dogg’s Telegram NFT Drop Sold Out in Half an Hour

    Snoop Dogg’s Telegram NFT Drop Sold Out in Half an Hour

    Snoop Dogg’s TON NFT Launch Could Signal New Narrative for NFT Market

    Snoop Dogg’s TON NFT Launch Could Signal New Narrative for NFT Market

    Why a ‘Mobile-First’ Mentality Drove OpenSea’s Latest Acquisition

    Why a ‘Mobile-First’ Mentality Drove OpenSea’s Latest Acquisition

    Boxed Memecoins as Collectible Toys

    Boxed Memecoins as Collectible Toys

    Hype fades as NFT platforms lose users

    Hype fades as NFT platforms lose users

    OpenSea Revolutionizes Mobile Trading with Rally Wallet Acquisition

    OpenSea Revolutionizes Mobile Trading with Rally Wallet Acquisition

    Donald Trump Had Said, ‘The US Government Will Not Sell Cryptocurrency From Now On,’ But Something Strange Is Going On — Onchain Data Shows…

    Donald Trump Had Said, ‘The US Government Will Not Sell Cryptocurrency From Now On,’ But Something Strange Is Going On — Onchain Data Shows…

    What are Floki’s Flokitars?

    What are Floki’s Flokitars?

  • Gaming
    ChatGPT vs X: Who Sees Crypto Narratives First?

    ChatGPT vs X: Who Sees Crypto Narratives First?

    Why AAA Game Studios Will Eventually Embrace NFTs

    Why AAA Game Studios Will Eventually Embrace NFTs

    Blazpay and Onmi AR Unite to Elevate Web3 Gaming Experience

    Blazpay and Onmi AR Unite to Elevate Web3 Gaming Experience

    Floki’s Valhalla Surpasses 100K Veras Minted Within Days of Launch

    Floki’s Valhalla Surpasses 100K Veras Minted Within Days of Launch

    Gear Runner Integrates with Meta Arena to Deliver Gamified Real-World Activity and Move to Earn for GameFi Fans

    Gear Runner Integrates with Meta Arena to Deliver Gamified Real-World Activity and Move to Earn for GameFi Fans

    Less Hype, More Utility: 5 Ways NFTs Are Rebuilding in 2025

    Less Hype, More Utility: 5 Ways NFTs Are Rebuilding in 2025

    ‘OpenSeason’ Crypto Game Goes Offline as Devs Pivot to Gambling on Nudity

    ‘OpenSeason’ Crypto Game Goes Offline as Devs Pivot to Gambling on Nudity

    Off The Grid studio unveils Solana cofounder-inspired skin

    Off The Grid studio unveils Solana cofounder-inspired skin

    Web3 Powerhouses Fabwelt and LoveBit Unite to Drive Purpose-Driven GameFi

    Web3 Powerhouses Fabwelt and LoveBit Unite to Drive Purpose-Driven GameFi

  • Blockchain
    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    LFG Boosts Token Launches with Community Power

    LFG Boosts Token Launches with Community Power

    Polyhedra Network launches Proof Cloud in open beta

    Polyhedra Network launches Proof Cloud in open beta

    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

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    SoonVerse Partners with Arris to Enhance User Experience

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    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

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    What Is Crypto Staking? How to Earn Crypto by Holding It

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    What is Dollar-Cost Averaging (DCA) in Crypto? A Beginner’s Guide

    What is Dollar-Cost Averaging (DCA) in Crypto? A Beginner’s Guide

    What Is Liquid Staking? How It Works & Why It Matters in Crypto

    What Is Liquid Staking? How It Works & Why It Matters in Crypto

    A Full Comparison of Layer 2 Solutions

    What are Rollups in Crypto? ZK Rollups and Optimistic Rollups Explained

  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

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    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

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    Dogecoin Bull run

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    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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Home Mining

Bitcoin miner Bitdeer looks confident despite disappointing Q4 results

March 1, 2025
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Bitcoin miner Bitdeer looks confident despite disappointing Q4 results
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Bitdeer has seen a flurry of activity in recent days as it makes strategic moves in the face of falling revenue and continues to move forward with long-term plans.

READ ALSO

Russia elevates AI over Bitcoin with impending ban on data center mining

BIT Mining’s strategic leap into Solana propels stock to 3-year high

The Singapore-based, Nasdaq-listed Bitdeer purchased 100 Bitcoin this week in two operations. It bought 50 BTC at $90,280 on Feb. 25, the same day its fourth-quarter 2024 financial report was released. On Feb. 27, it purchased another 50 BTC at $81,475 each, for a total outlay of $8,587,750. On Feb. 23, before the purchases, Bitdeer held 911 BTC.

Bitdeer buys the dip, announces repurchase

On Feb. 28, the company announced the completion of a $9 million share buyback program and the launch of a $20 million share repurchase program that will run through Feb. 28, 2026. The new round of repurchasing will be carried out gradually and funded with the company’s cash on hand.

These actions come against the backdrop of two quarters of falling revenue. Bitdeer Technologies Group, which includes Bitdeer AI, showed healthy revenue growth in the first half of 2024. Total revenue reached $119.5 million in Q1, compared to $72.6 million in the same quarter of 2023. It also registered net income of $600,000, compared to a net loss of $9.5 million a year earlier.

Q2 2024 brought in $99.2 million against $93.8 million in Q2 2023. It showed a net loss of $17.7 million, versus a net loss of $40.4 million in 2023.

See also  Marathon Digital upsizes debt offering to $1 billion for Bitcoin expansion

Halving and market trends hit Bitdeer hard

The fourth Bitcoin halving in April 2024, when the reward for mining a block was reduced from 6.26 BTC to 3.125 BTC, rocked the gross profit margins of the entire mining industry. Bitdeer revenue fell to $62.0 million in Q3, down from $87.3 million the previous year. Q4 showed $69 million in revenue, down from $114.8 million in Q4 2023. Net loss skyrocketed from $5.0 million in Q4 2023 to $531.9 million.

In a statement at the release of the Q3 report, Bitdeer chief business officer Matt Kong attributed the declining indicators to the halving, as well as the increased global hash rate, decreased hosting revenue and one-time research and one-time development costs.

The last month has also seen a downturn in miners’ stock in line with broader stock and crypto market trends. Bitdeer was the loss leader among them, losing 55% of its value as the industry overall lost $13 billion.

Bitdeer has gone into ASIC design

The R&D outlay Kong referred to was connected with its SEAL02 chip development. The company announced a roadmap for designing application-specific integrated circuit (ASIC) in June. Also in June, Bitdeer paid $140 million in stock for chip designed DesiweMiner and integrated its staff into Bitdeer’s ASIC design team.

At that time, the first generation, SEAL01, had been released and was expected to go into mass production in the Q4 2024. SEAL02 was expected to be released in the Q3 2024, and SEAL03 in Q4 2024. SEAL04 should be released in in Q2 2025 for mass delivery in Q4 2025.

See also  Celsius seeks final approval for $45 million Core Scientific Bitcoin mining site

At the time of writing, Bitdeer has 1,380,679 reservations for its SEAL A2 model and plans to begin shipping in March.

Also this week, the company’s CEO Jihan Wu committed to the sale of up to 4 million ordinary shares between March and June 15, 2025 under a plan finalized in December. The company stressed that the plan complies with the United States Securities and Exchange Commission’s Rule 10b5-1 on insider trading.

Tags: BitcoinBitdeerconfidentDisappointingminerresults

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