Full Year 2025 BGIN Blockchain Ltd Earnings Call Transcript

Apr 24, 2026 / 12:00 AM GMT

Transcript

Key Points

Positve

BGIN Blockchain Ltd (BGIN) successfully developed a 4 nanometer bitcoin miner prototype, marking a significant technical milestone.
The company has a diversified revenue model with three core engines: hardware sales, high-efficiency mining operations, and scalable hosting services.
BGIN's strategic pivot towards Bitcoin and Dogecoin mining is expected to optimize energy efficiency and cost, enhancing operating performance.
The company maintains a strong focus on R&D, investing in proprietary chip development for Bitcoin and Dogecoin mining technologies.
BGIN's IPO has provided strategic flexibility, allowing for better capital allocation and expansion opportunities.

Negative

BGIN reported a net loss of $177 million in 2025, primarily due to non-cash items such as inventory provisions and write-offs.
Total revenue declined significantly from $302.3 million in 2024 to $67.4 million in 2025, reflecting the strategic shift away from altcoin mining.
Sales of mining machines dropped sharply from $192.2 million in 2024 to $15.3 million in 2025 due to market volatility and strategic refocusing.
The company faced increased costs in mining operations, with a rise in depreciation, logistics, and utility expenses.
Hosting revenue decreased from $6.2 million in 2024 to $3.3 million in 2025, attributed to reduced customer demand and market volatility.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BGIN.OQ - BGIN Blockchain Ltd
Full Year 2025 BGIN Blockchain Ltd Earnings Call
Apr 25, 2026 / 12:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and good evening, ladies and gentlemen.

Thank you for standing by.

Welcome to Beijing's earnings conference.

At this time, all participants are in the listen-only mode.

We'll be toasting a question-and-answer session after management pre prepared remarks.

Please note that to this event is being recorded.

I will now turn the call print over to Jennifer Jiang, Investor relations director of the company.

Please go ahead, ma'am.

Thank you.

However, everyone, and welcome to BGIN's earnings call for the full fiscal year 2025.

With us today, our CEO Qinghong Wu, chairmaniu Hualli, Chase Corporate Development Officer Raan Mirza

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