Bitdeer Reports Q1 Revenue Decline Amid Rising Electricity Costs

Bitdeer Technologies Group (Btdr.US) recently released its first quarter financial results for the fiscal year 2025. The company reported a revenue of $70.1 million, marking a significant 41.3% decrease compared to the same period last year. However, the company saw a 1.6% increase in revenue from Q4 2024. Revenue from self-operated businesses dropped by 10.4% year-over-year to $37.2 million. This decline was mainly attributed to increased electricity costs during Bhutan’s dry season, leading to a temporary halt of mining operations. The situation has since improved with electricity prices returning to $0.042 per kWh during the wet season.