Bitdeer Technologies, a Singapore-based Bitcoin mining company, has reported a significant revenue decrease for the first quarter of 2025. The company’s earnings fell by 41% year-on-year, reaching $70.1 million according to Cointelegraph. This drop comes as Bitdeer shifts its focus from traditional Bitcoin mining towards high-performance computing (HPC) for artificial intelligence applications. The company saw an operating loss of $3.2 million, a sharp contrast with the $34.1 million profit seen during the same period in 2024. However, Bitdeer achieved a net income exceeding $400 million, largely driven by gains from convertible notes and warrants issued to stablecoin issuer Tether in 2024.