Bitdeer Technologies Group reported fourth‑quarter 2025 results that surpassed revenue expectations but fell short on earnings per share. Total revenue rose to $224.8 million, a 225.8% year‑over‑year increase that beat the consensus estimate of $209.85 million by $14.95 million. The company posted a loss of $0.73 per share, missing the consensus estimate of $-0.14 by $0.59, and a reported EPS of $-0.31 would have widened the miss to $0.17.
Year‑over‑year, revenue climbed from $169.7 million in Q3 2025 to $224.8 million in Q4 2025, while gross profit grew from $40.8 million to $10.5 million. Sequentially, Q4 revenue was up 32.8% from the $169.7 million reported in Q3 2025, reflecting a stronger mix of self‑mining and AI‑cloud services. Gross margin contracted from 7.4% in Q4 2024 to 4.7% in Q4 2025, a 2.7‑percentage‑point decline driven by a jump in cost of revenue from $63.9 million to $214.3 million.
The sharp rise in cost of revenue is largely attributable to lower Bitcoin prices, which reduced mining profitability, and to higher operating expenses associated with expanding AI‑infrastructure deployments. Management noted that the company’s 3.0 GW power portfolio has become a strategic asset, but the cost base has expanded as Bitdeer invests in colocation and GPU‑as‑a‑service capabilities.
Segment analysis shows that self‑mining revenue grew significantly, while HPC and AI‑cloud segments contributed to the overall revenue surge. The company’s dual‑track strategy—prioritizing colocation at its largest sites while expanding GPU‑as‑a‑service—has begun to diversify its revenue mix beyond traditional mining, a shift highlighted by Chief Business Officer Matt Kong.
Management outlined a forward‑looking plan that includes $180 million to $200 million of infrastructure investment for 2026, focused on colocation services and AI data‑center development. This guidance signals confidence in the company’s ability to monetize its power portfolio and to capture growing demand for high‑performance compute infrastructure.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.