Bitdeer’s Q4 Deficit Hits $532M as It Accelerates ASIC Innovation for Future Gains

Bitdeer’s Q4 Loss Swells to $532M as Company Bets on ASIC Innovation for Future Growth

Bitdeer Technologies Group (BTDR) reported a fourth-quarter net loss of $531.9 million, a dramatic increase from the $5 million loss recorded in the same quarter last year.

The Singapore-based bitcoin mining firm attributed the widening losses to aggressive investments in proprietary ASIC mining chip development, which it believes will drive long-term efficiency and profitability.

“Our commitment to ASIC development has momentarily slowed hashrate expansion, but this investment is setting the foundation for a stronger, more cost-efficient mining operation,” said Matt Kong, Bitdeer’s chief business officer. “With our own ASICs, we gain greater control over deployment speed, energy consumption, and capital allocation.”

Revenue for the quarter declined 40% year-over-year to $69 million, impacted by lower earnings across self-mining, hosting, and cloud hashrate services.

Despite near-term financial challenges, Bitdeer is doubling down on its growth strategy. The company aims to expand its self-mining capacity to 40 exahashes per second (EH/s) by the end of 2025, which would place it among the largest bitcoin miners globally.

Additionally, Bitdeer is scaling its power infrastructure, with over 1 gigawatt (GW) of capacity expected to be operational by 2026—more than double its current 900 megawatts (MW).

Beyond mining, the company sees significant opportunities in ASIC hardware sales, positioning itself as a key supplier amid growing demand for alternative chip providers. It is also exploring partnerships with AI-driven data centers to supply energy for high-performance computing.

Following the earnings report, Bitdeer’s stock plunged 28% as both crypto and traditional markets faced broader sell-offs. Shares are now trading at $9.49, marking a 64% decline from their record high in December.

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