Bitdeer Technologies (NASDAQ: BTDR) Dives 4.37% as Q2 Earnings Show 121% Revenue Surge and $147.7M Net Loss

Bitdeer Technologies Group (NASDAQ: BTDR) fell 4.37% intraday on September 18, 2025, marking its lowest share price since September 2025. The decline follows mixed signals from the company’s Q2 2025 earnings, which highlighted a 121% year-over-year revenue surge driven by record Bitcoin mining output. However, a net loss of $147.7 million widened from prior periods, sparking investor concerns over profitability amid rising energy costs and capital expenditures.

Analyst sentiment remains split. Rosenblatt Securities and HC Wainwright maintained “Buy” ratings, citing Bitdeer’s strategic expansion in global power capacity and hash rate growth. Institutional investors, including Capital Fund Management and Zurcher Kantonalbank, increased holdings, reflecting confidence in the firm’s operational resilience. Conversely, some analysts downgraded Q3 2025 earnings estimates, flagging delays in infrastructure projects and Bitcoin price volatility as risks.

The company’s strategic investments in energy-efficient mining hardware, such as the SEALMINER A3, and plans to expand U.S. rig manufacturing aim to reduce reliance on overseas supply chains. These moves align with a vertical integration strategy to lower costs and enhance competitiveness. However, recent shareholder activity, including a 3.2% decline in CEO Jihan Wu’s holdings, has raised questions about internal confidence amid persistent losses.

Broader market dynamics also weigh on Bitdeer’s performance. Bitcoin’s price trajectory remains a key driver, with analysts debating its long-term potential. Regulatory shifts, including U.S. Digital Coins Bills, initially boosted sentiment but have since introduced volatility. Institutional demand for crypto-related assets persists, though sector-wide headwinds—such as Trump-era tariffs and macroeconomic uncertainty—add complexity to the outlook.