Bitcoin Miner Smashes Revenue Records—Yet Still Drowns in Red Ink
Bitcoin's backbone just flexed—hard. One major miner raked in record-breaking revenue last quarter... while somehow managing to hemorrhage cash.
The paradox that sums up crypto
Revenue up. Losses deeper. The math shouldn’t work—but in Bitcoin mining, it somehow does. Whether it’s power costs, hardware debt, or good old-fashioned volatility, the numbers refuse to behave.
Wall Street would’ve fired the CFO
Traditional finance types are clutching their pearls. ‘How do you lose millions while printing money?’ Simple—you’re playing by crypto rules, where ‘profit’ is a theoretical concept and hodling counts as a business strategy.
The bullish case? Brutality breeds innovation.
Miners surviving this grind emerge leaner, meaner, and ruthlessly efficient. Next halving? Bring it on. These operations either adapt or die—and adaptation looks like a fleet of next-gen rigs humming at sub-3-cent power rates.
So yes, today’s losses sting. But the real story? The machine keeps moving—faster, hungrier, and increasingly indifferent to Wall Street’s spreadsheets.
CFTC Eyes Regulated Spot crypto Trading as Congress Stalls
The company’s bitcoin reserves increased to 2,029 BTC, up from 1,502 BTC the previous quarter, equating to roughly $214 million at current prices. This accumulation came even as Bitcoin’s price declined from around $119,000 to $105,000 during the quarter.
Bitdeer also reported a self-mining hashrate of 41.2 exahashes per second (EH/s), demonstrating rapid capacity growth. The firm’s new SEAL04 chip reached 6–7 joules per terahash (J/TH) in testing – a key efficiency benchmark in the mining industry that signals progress toward next-generation performance goals.
As the mining sector adapts to fluctuating Bitcoin prices and increasing competition, Bitdeer’s strategy of scaling self-mining and diversifying into AI infrastructure positions it as one of the few miners successfully balancing growth, innovation, and resilience in an evolving market.
