Bitdeer's Q2 2025 Earnings Call: Contradictions in ASIC Demand, Clarington Strategy, and Pricing Tactics

Generated by AI AgentEarnings Decrypt
Monday, Aug 18, 2025 10:09 am ET1min read
Aime RobotAime Summary

- Bitdeer's Q2 2025 revenue hit $155.6M, up 122% sequentially and 57% YoY, driven by self-mining, SealMiner ASIC sales, and Bitcoin price gains.

- Self-mining hash rate surged 46% to 14.2 EH, with plans to exceed 40 EH by October via SealMiner production and supply chain investments.

- Data center capacity reached 361 MW by July, aiming for 1.6 GW by Q3 to support mining expansion and ASIC commercialization.

- Adjusted EBITDA reached $17.3M, driven by self-mining and ASIC sales despite higher mining difficulty and lower hosting revenues.



Revenue Growth and Diversification:
-
Bitdeer Technologies Group
reported revenue of $155,600,000 for Q2 2025, up 122% sequentially from Q1 and 57% year over year.
- The growth was driven by strong execution in the self mining business, commercial sales of SealMiner ASICs, and higher
Bitcoin
prices.

Self Mining and Hash Rate Expansion:
- Bitdeer’s self mining hash rate increased by 46% to 14.2 exahash in Q2, with plans to exceed 40 exahash by October.
- This expansion was facilitated by mass production of SealMiner ASICs and strategic investments in chip design and supply chain.

Data Center Infrastructure Development:
- As of July 2025,
Bitdeer
energized 361 MW of data center capacity, with plans to reach 1.6 GW by the end of Q3.
- This rapid buildout supports Bitdeer’s strategic growth in self mining and commercial sales of ASICs.

Earnings and Operating Results:
- The company reported adjusted EBITDA of $17,300,000 for Q2, indicating a significant improvement compared to Q1.
- This improvement was due to increased self mining hash rate and commercial sales of SealMiner ASICs, despite challenges from higher mining difficulty and lower hosting revenues.

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