Nasdaq-listed Bitcoin miner Bitdeer plans U.S. expansion despite shrinking profits, citing supportive U.S. crypto policies but challenges from trade tariffs.
Bitdeer, the Singapore-based Bitcoin mining company listed on Nasdaq, reported second-quarter revenue of $155.6 million, exceeding analyst estimates by more than 90%. Despite this, the firm posted a net loss of $147.7 million compared to a net profit of $409.5 million in the prior quarter. The company plans to expand operations by building mining rigs and investing in U.S. resources, even as tariffs complicate equipment acquisition. CFO Jeff LaBerge highlighted U.S. President Donald Trump’s supportive cryptocurrency stance, though trade policies present challenges. Bitdeer’s stock closed at $12.87, down 0.3% Wednesday and over 43% year-to-date. The firm aims to improve financial results through self-mining and U.S.-based rig production, while competitors pivot toward AI or treasury strategies.