Here’s Why Bitdeer Technologies (BTDR) is down 45% This Year

Bitdeer Technologies Group (NASDAQ:BTDR) is one of the 11 Best Tech Stocks to Buy On the Dip. The company’s strategy relies on vertical integration and its proprietary SEALMINER mining rigs, which are designed and produced in-house. Analysts believe this sets Bitdeer Technologies Group (NASDAQ:BTDR) apart from many competitors and allows the company to exercise greater control over efficiency and innovation.

However, despite this strategic edge, the stock has been down around 45% on a year-to-date basis, mainly due to significant financial strain in Q1 2025. The company’s revenue fell sharply to $70.1 million from $119.5 million a year ago. Moreover, the cost of revenue exceeded quarterly revenue and came in at $73.4 million, thereby impacting the gross profits, which came in at a negative $3.2 million versus a positive gross profit of $34.1 million last year.

A construction team in a mining datacenter building work site with plans and equipment in hand.

Management of Bitdeer Technologies Group (NASDAQ:BTDR) remains committed to executing its SEALMINER roadmap strategy. Matt Kong, Chief Business Officer at Bitdeer noted that they have energized 3.7 EH/s and 0.5 EH/s of SEALMINER A1 and SEALMINER A2. This brought the company’s self-mining hash rate to 12.4 EH/s by the end of April. The company is targeting a self-mining hash rate of 40 EH/s by October 2025.

On June 11, Bitdeer Technologies Group (NASDAQ:BTDR) released its May 2025 operational updates. The company self-mined 196 Bitcoins, reflecting an 18.1% increase from April 2025 driven by a higher average self-mining hash rate from the energization of SEALMINERs. “In May 2025, we continued to deploy our SEALMINER mining rigs to our sites in Texas, the US, Norway, and Bhutan, bringing Bitdeer’s self-mining hash rate to 13.6 EH/s at the end of May,” said Matt Kong.

Bitdeer Technologies Group (NASDAQ:BTDR) is a blockchain technology company that provides comprehensive computing solutions related to cryptocurrency mining. The company manages the entire process of bitcoin mining and operates through three main segments including self-mining, hash rate sharing, and hosting services.

While we acknowledge the potential of BTDR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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