Bitdeer, one of the leading players in the bitcoin mining market, has released its financial report for the third quarter of 2025, revealing a net loss of $266.7 million. This result significantly exceeds the figures from both the third quarter of 2024 and the previous quarter of 2025. In light of this information, the company’s shares fell by nearly 20%.
This is reported by Finway
Financial and Operational Performance of Bitdeer in Q3
According to the published data, Bitdeer generated revenue of $169.7 million, which is significantly higher than the $62 million recorded in the same period last year. Meanwhile, the company’s net loss amounted to $266.7 million, whereas in 2024 this figure was only $2.8 million. Direct costs (CoR) rose to $128.9 million compared to $59.3 million in Q3 2024.
Loss per share reached $1.28, which greatly exceeded analysts’ expectations of $0.22. In comparison, in the third quarter of 2024, this figure was $0.35 per share.
Growth in Production Capacity and Hashrate
Despite financial difficulties, Bitdeer demonstrated growth in operational metrics. The company’s hashrate increased to 49.2 EH/s, and the number of mining rigs (ASICs) reached 241,000 units. Over the three months, the company mined 1,109 BTC, and the total bitcoin reserve on its balance sheet grew to 2,029 BTC.
The market’s reaction to the financial report was quite sharp: on November 10, 2025, Bitdeer’s stock price on the Nasdaq exchange dropped by nearly 20%.
The company’s management, despite the challenging figures, remains confident about the future and emphasizes investments in the development of artificial intelligence technologies.
“Q3 was marked by strong operational and financial metrics. Regarding AI, we have intensified our focus and investments to meet the growing global demand for computing,” said the company’s Chief Commercial Officer, Matt Kong.
The report also noted that Bitdeer has begun production of a new mining rig model, the SEALMINER A3, which was unveiled in September. It is worth mentioning that in the second quarter of 2025, the company also ended the reporting period with a net loss.