Bitdeer reports Q2 EPS (76c) vs. (14c) last year

Reports Q2 revenue $155.6M, consensus $109.2M. Crypto balance: $169.3M as of June 30, 2025. “Q2 marked a key inflection point,” said Matt Kong, Chief Business Officer. “Q2 revenue of $155.6 million was up 56.8% year-over-year and 121.9% sequentially, driven by strong growth in our self-mining business as well as external sales of our SEALMINER A2s. Looking forward, we anticipate continued rapid growth in our self-mining hashrate throughout the remainder of the year and we are well on track to achieve our 40 EH/s target by the end of October. Further, wafer supply allocation at our foundry has improved and it is likely that we will exceed this target by year end. As we move into the second half of the year, we expect our financial results to continue to improve sequentially. Our R&D efforts are now focused on our SEALMINER A4 project, for which we are targeting an unprecedent chip efficiency of approximately 5 J/TH at the chip level. Major progress was made in July with customized silicon software development and the expansion of the U.S. engineering team to support the SEAL04 chip. Together with our SEALMINER A3 mining rig, we believe these two chips will firmly position Bitdeer (BTDR) as a leading supplier with the most energy-efficient mining rigs in the industry-significantly enhancing our competitive position and unlocking substantial value for both our customers and shareholders. On the energy front, we continued rapidly building out our global power and datacenter infrastructure. Year-to-date, we have energized 361 MW of datacenter capacity for self-mining, bringing our total available electrical capacity to approximately 1.3 GW. We expect to have over 1.6 GW by year-end. In July, we achieved a key milestone by signing the Letter of Agreement with AEP Ohio for the second phase of Clarington, advancing the final stages for the full 570 MW of capacity. In terms of our HPC/AI initiative, we have entered into advanced negotiations with a certain development partner with significant expertise and customer relationships for our Clarington, Ohio site and we are optimistic to be able to share more details in the coming months.”