PANews reported on May 16 that according to Cointelegraph, Bitcoin mining company Bitdeer announced its first quarter financial report for 2025, with revenue down 41% year-on-year to $70.1 million and an operating loss of $3.2 million. However, benefiting from the increase in convertible notes and warrants issued to Tether in 2024, the company's net income in the first quarter exceeded $400 million. The company is accelerating the development of its own mining business, and it is expected that the computing power will reach 40 EH/s by the end of 2025. At the same time, it is promoting the US high-performance computing (HPC) and AI infrastructure plans to meet the industry challenges after the Bitcoin halving. Regulatory documents show that Tether currently holds a 21% stake in Bitdeer. As Bitcoin mining revenue is halved, mining companies generally turn to AI computing services. Bitdeer's self-developed SEALMINER mining machine has been put into production, but sales have not yet made up for the mining revenue gap. The company said that sufficient global electricity supply will support the rapid expansion of computing power.