Bitdeer’s Q4 Loss Swells to $532M Amid Focus on Next-Gen ASIC Miner Growth

Bitdeer’s Q4 Loss Swells to $532M as It Invests Heavily in ASIC Mining Technology

Bitcoin mining firm Bitdeer Technologies Group (BTDR) reported a sharp increase in its fourth-quarter net loss, reaching $531.9 million—up from just $5 million a year earlier.

The company attributed the steep losses to its strategic push into proprietary ASIC chip development, a move it believes will drive long-term efficiency and competitiveness.

“Our focus on ASIC innovation has temporarily slowed hashrate growth, but we’re making meaningful progress in strengthening our technology stack,” said Matt Kong, Bitdeer’s chief business officer. “Developing our own ASICs enables us to scale mining operations more effectively, reduce costs, and optimize capital allocation.”

Quarterly revenue dropped 40% year-over-year to $69 million, with declines in self-mining, hosting, and cloud hashrate services contributing to the downturn.

Despite short-term setbacks, Bitdeer is aggressively expanding, targeting 40 exahashes per second (EH/s) in self-mining capacity by the end of 2025—a level that would rank it among the world’s largest bitcoin miners.

The company is also scaling its energy infrastructure, planning to add over 1 gigawatt (GW) of power capacity in 2026, more than doubling its existing 900 megawatts (MW).

Beyond mining, Bitdeer sees significant potential in the ASIC market, positioning itself as an alternative supplier amid rising industry demand. Additionally, the firm is eyeing AI-related energy services, aiming to capitalize on the growing need for high-performance computing power.

Following the earnings announcement, Bitdeer’s stock plunged 28%, mirroring broader weakness in both the crypto and traditional markets. Shares are now trading at $9.49, down 64% from their record high in December.