Bitcoin miner Bitdeer Technology Group's stock closed down 20% Monday after the company reported a net loss of $266.7 million for its 2025 third quarter on Monday, a 422% year-over-year decline.
BitDeer's loss per share loss of -$1.28 was down from $-0.35 in Q3 2024, and Zacks Investment Research's consensus estimates of -$0.22. The firm did almost triple its revenue to $169.7 from $62 million last year, beating Zacks' forecast.
BTDR was closed Monday at $17.64, according to Yahoo Finance data, losing gains it has made over the past month. The company's share price is roughly flat for this period, holding up better than those of competitors, although BitDeer remains off 21% year-to-date.
MARA Holdings and CleanSpark finished down on 1.8% and 3.4% on Monday, while Riot Platforms was up 1.8%. MARA has fallen about 16.4% over the past month, while CleanSpark and Riot Platforms are off 22% and 17.5% over the past month.
In a statement, BitDeer Chief Business Officer Matt Kong struck an upbeat note, highlighting the company's shift to high-powered computing.
"Q3 marked a quarter of strong execution and financial performance," Kong said in a statement, added that the Bitdeer would continue to focus on its AI-pivot. "On the AI front, we have intensified our focus and investment to capture the surging global demand for compute," Kong said.
Bitdeer is among the Bitcoin miners who see opportunities in the AI industry's growing demand.
Bitcoin miners, mostly large industrial operations of specialized computers, have faced increasing headwinds over the past 18 months with rewards for verifying blockchain transactions cut from 6.25 to 3.125 Bitcoin after last year’s halving and operational costs rising.
A number of miners have reoriented entirely to become cryptocurrency treasuries.
Bitdeer in August told Decrypt that it was focusing on plans to build rigs and invest in U.S. resources. Most mining equipment for the industry comes from China.
The firm said that mass production of its Sealminer A3 machine was underway and that development of a new chip for energy efficient mining—SEAL04—was delayed.
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