Bitdeer Technologies Reports Significant Revenue Decline Amid Strategic Shift

According to Cointelegraph, Bitdeer Technologies Group, a prominent Bitcoin mining company based in Singapore, has announced a substantial 41% decrease in revenue for the first quarter of 2025, totaling $70.1 million. This marks a significant drop from the previous year's figures, as the company reported an operating loss of $3.2 million, contrasting sharply with the $34.1 million profit recorded during the same period last year. Despite these challenges, Bitdeer achieved a net income exceeding $400 million, primarily attributed to gains from convertible notes and warrants issued to stablecoin issuer Tether in 2024.#BTC #AI