Bitdeer Technologies (BTDR) boosted its bitcoin (BTC) holdings by almost 75% in two months

The Singapore-based company's holdings rose to 1,039 BTC as of February 2025, up from 594 BTC in December, it said in a release.

Bitdeer Technologies (BTDR) on Tuesday reported a fourth-quarter net loss of $531.9 million, as the company’s main focus remains on developing its bitcoin mining chips.

The Singapore-based firm’s loss compares with a net income of $25.3 million in the third quarter and an average estimate of a $460.8 million loss from seven analysts polled by Bloomberg.

The company’s shares fell slightly more than 1% in pre-market trading.

The mining firm’s main focus is on developing its bitcoin mining chips, and it says its new A3 miner achieved significant energy efficiency in recent tests.

Earlier this year, customers asked to delay payments for the SEALMINER A2 units during the largest cryptocurrency’s price decline, prompting Bitdeer to adjust its strategy.

As a result, Bitdeer Technologies reduced its planned purchase of A2 units and used some of the canceled orders to increase the company’s hash rate.

The company’s bitcoin holdings rose to 1,039 as of February 2024, up from 594 in December. The increased holdings position it among the top bitcoin miners when it comes to BTC treasuries.

However, Bitdeer still trails behind the largest holders: MARA (NASDAQ:MARA) Holdings with 46,374 bitcoin and Riot Platforms (NASDAQ:RIOT) with 18,692 bitcoin.

The company’s main focus is on developing its bitcoin mining chips, and it says its new A3 miner achieved significant energy efficiency in recent tests.

The mining firm produced 110 bitcoin in February, down from 126 bitcoin in January, in part because of the shorter month. Its total proprietary hash rate increased to 9.4 exahashes per second (EH/s), up from 8.9 EH/s in December.

The company’s shares rose 0.85% to $10.66 in Nasdaq trading.