Bitdeer Technologies Group (HAM:R1T)

Q1 2025 Bitdeer Technologies Group Earnings Call Transcript

May 15, 2025 / 12:00 PM GMT

Transcript

Key Points

Positve

Bitdeer Technologies Group (BTDR) has increased its self-mining hash rate to 11.5 exahash per second, with plans to reach 40 exahash per second by October 2025.
The company is expanding its global power capacity, with nearly 500 megawatts of new self-mining power capacity expected by mid-year, increasing total capacity to nearly 1.6 gigawatts.
Bitdeer Technologies Group (BTDR) is focusing on geographic diversification, with significant power capacity in Norway and Bhutan.
The company is developing its own AI technology, which is expected to provide long-term advantages and cost efficiencies.
Bitdeer Technologies Group (BTDR) has entered into a loan agreement with Matrix Finance and Technology Holding Company for a financing facility of up to $200 million, supporting its expansion plans.

Negative

Bitdeer Technologies Group (BTDR) reported a negative gross profit of $3.2 million and an adjusted EBITDA of negative $56.1 million for Q1 2025.
The company's revenue decreased to $70.1 million from $119.5 million, impacted by the April 2024 halving event and increased global network hash rates.
Cloud hash rate revenue significantly declined due to the expiration of long-term contracts and reallocation to self-mining operations.
Higher R&D costs related to the development of new mining technology have impacted financial performance.
Electricity costs were higher in Q1, partly due to extreme weather conditions and procurement challenges in Bhutan.

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

BTDR.OQ - Bitdeer Technologies Group
Q1 2025 Bitdeer Technologies Group Earnings Call
May 15, 2025 / 12:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day and welcome to the Bit Dear first quarter 2025 earnings call. At this time, all participants are in listen-only mode. After the speaker's presentation, there'll be a question and answer session. Instructions will be given at that time.

As a reminder, this call may be recorded.

I would like to turn the call over to you GSI ambassador relations advisor. Please go ahead.

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Unidentified_2 [2]
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Thank you, operator, and good morning.

Welcome to Vi year's first quarter 2025 earnings conference call. Joining me

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