Bitdeer Returns to Profit in Q4 Amid Pivot to AI

After a year of persistent losses, the Singapore-based Bitcoin mining firm has reported a net profit of $70.5mn for the final quarter of 2025, a significant reversal from the $531.9mn net loss posted in the same period last year. 

The company's Nasdaq-listed shares initially jumped in pre-market trading from $11.99 at the 11 Feb close to as high as $12.68, before slipping back into negative territory, down around 1% as of 13:30 UTC at around $11.87.

Total revenue for the quarter reached $224.8mn, up from $69.0mn in late 2024. While much of this growth is attributed to the sheer scale of its mining operations, which saw Bitcoin production increase 430% year-on-year in January, the real interest lies in the company’s pivot toward high-performance computing.

It appears that Bitdeer’s commitment to vertical integration is beginning to pay dividends. 

The company’s unaudited Q4 results show an adjusted EBITDA of $31.2mn, suggesting that its move to design proprietary chips and build out its own power infrastructure is more than just a defensive play.

Bitdeer is currently maintaining a cash position of $149.4mn, providing a necessary buffer as it expands its global power portfolio, which now stands at 3.0 GW. In an environment where major institutional investors are increasingly exposed to Bitcoin price volatility, Bitdeer is seeking to build a business model that can withstand the cyclical nature of the digital asset market.

The most significant detail in the report is not the hashrate, but the hardware. Bitdeer is converting its Tydal facility in Norway into an AI data centre, replacing mining rigs with NVIDIA GB200 clusters. 

This "dual-track" strategy is an attempt to hedge against the fluctuations of the onchain economy by tapping into the persistent demand for AI infrastructure.

Chief Business Officer Matt Kong highlighted the widening supply-demand imbalance for AI computing. By repurposing its energy-intensive assets for colocation services, Bitdeer is positioning itself as an infrastructure provider for hyperscale clients.