Bitdeer Shares Fell 20% on Wider-Than-Estimated Q3 Net Loss, ASIC Chip Delay

Bitdeer, a bitcoin miner and equipment manufacturer, experienced a 20% drop in shares following the announcement of a widening net loss for Q3 2025. The company's net loss increased to $266.7 million, or $1.28 per share, from $50.1 million in the same quarter last year, falling short of analysts' expectations of a 25 cents loss per share. Although Bitdeer reported a surge in revenue, which more than doubled to $169.7 million, the market reacted negatively to the news of a delay in their next-gen SEAL04 ASIC chip. Additionally, the company noted its self-mining capacity rose to 41.2 EH/s, with bitcoin holdings reaching 2,029 BTC. Despite the setback, Bitdeer forecasts that 200 MW allocated to AI cloud services could yield an annualized revenue run rate of over $2 billion by the end of 2026. This decline marks the largest drop in shares since February, as investors expressed concerns over the delay and leadership involvement in the earnings call.

Source 🔗