PANews reported on May 16, according to Cointelegraph, Bitcoin mining company Bitdeer announced its financial report for the first quarter of 2025, with revenue down 41% year-on-year to $70.1 million and an operating loss of $3.2 million. However, benefiting from the appreciation of convertible notes and warrants issued to Tether in 2024, the company's net income for the first quarter exceeded $400 million. The company is accelerating the development of its self-operated mining business, with an expected computing power of 40 EH/s by the end of 2025. It is also advancing its high-performance computing (HPC) and AI infrastructure plans in the United States to address industry challenges following the Bitcoin halving. Regulatory filings show that Tether currently holds a 21% stake in Bitdeer. As Bitcoin mining revenue halves, mining companies are generally shifting to AI computing power services. Bitdeer's self-developed SEALMINER mining machines have been put into production, but sales have not yet filled the gap in mining revenue. The company stated that the ample global power supply will support the rapid expansion of computing power.