SoFi is making a strategic comeback to the cryptocurrency market, reintroducing Bitcoin and Ethereum trading along with expanded crypto services. The San Francisco-based financial firm plans to offer stablecoins, crypto
Summary During the quarter ended March, Bitdeer reported $70.1 million in top line revenue a year over year decline of 41.3%. For the first time, the company reported SEALMINER sales as an individual revenue segment. Those sales made up 5.8% of top line revenue and have the company's best gross margins. Based on current market conditions Bitdeer's SEALMINER A2s appear to be highly cost effective machines relative to competing offerings from Bitmain. The company raised over $300 million in a senior convertible note offering. Simultaneous to that raise, Bitdeer spend $130 million on call options that look dubious so far. Back in late-February, I covered Bitdeer ( BTDR ) for Seeking Alpha and spent time dissecting what I felt were the weak points of the company's business. After what I viewed to be a pretty awful year for the company in 2024, my closing takeaway was pretty simple: I see a company that is growing increasingly reliant on a segment that produced the worst gross margins of its four business lines during 2024. But the lone comment to that article pointed out something rather important, Bitdeer is adapting its business and aims to become a major player in the ASIC space. The 'elephant in the room' that I neglected to mention in February was the company's SEALMINER ambitions. After a Q1-25 report with SEALMINER sales broken out, we can assess how that business compares with Bitdeer's existing segments. We'll also look at the recent convertible note offering from the company. SEALMINER Sales & Q1-25 Revenue During the quarter ended March, Bitdeer reported $70.1 million in top line revenue. This was a decline of 41.3% year over year but a slight sequential bump from the $69 million reported at the end of December. More importantly, Bitdeer reported its first quarter of negative gross profit at -$3.2 million: Data by YCharts Adjusted EBITDA was negative by over $56 million and the company drew down its cash position by roughly 55% from $476 million at the end of December to $216 million at the end of March. It wasn't all bad in Q1 though. For the first time, Bitdeer's Q1-25 report gives investors insight into the profitability of the company's mining rig manufacturing segment. And the early indications from that line are good: $ in Millions Revenue Gross Profit Gross Margin Self-Mining $37.2 -$3.8 -10.2% Cloud Hash $0.1 $0.0 0.0% General Hosting $9.6 $0.5 5.2% Membership $16.3 $0.9 5.5% SEALMINERs $4.1 $0.8 19.5% Source: Bitdeer At 19.5% in the first quarter, SEALMINER sales were Bitdeer's most profitable business segment by far. Self-mining actually came in negative after $41 million in COGS to generate $37.2 million in self-mining revenue. Cloud Hash is all but a memory with just $0.1 million in revenue in Q1 while Membership and General Hosting have seen considerable compression in gross margins compared 16% and 23% respectively during 2024. I'll admit, the margin from early SEALMINER sales are encouraging, especially compared to how the rest of Bitdeer's business is performing. But the company has a long way to go before SEALMINERs can make for some of the issues elsewhere. Bitdeer Revenue By Segment (Bitdeer/Author's Chart) SEALMINER sales were a very small portion of the company's top line revenue at just 5.8%. Given the degree to which Bitdeer is scaling self-mining exahash, I would expect self-mining to continue to generate the lion's share of Bitdeer's business for the remainder of this year: Bitdeer Production (Bitdeer/Author's Chart) As of end of May, Bitdeer's self-mining footprint reached 13.6 EH/s. This was largely attributed to the company energizing its SEALMINER rigs for self-mining in addition to selling them to the public. SEALMINER Profitability and Sales Projections When comparing mining rigs, hashrate and joule/TH metrics are often focal points in the market. Yet, powering the most efficient rig by J/TH might not be smart if the purchaser overpays for the machine. Thus, cost per TH is perhaps the more important metric, in my view. The screen shot below shows the top ten Bitcoin mining rigs organized by hashrate. Two of Bitdeer's A2 models crack the top ten but the bigger takeaway is how cost effective these machines are compared to Bitmain machines: Bitcoin Mining Rig Comparison (MiningNow) Keep in mind, this data is changing constantly. But at present time, Bitdeer's A2 rigs can be purchased for less than $10/TH while Bitmain's Antminers are often at least double the price per TH. This is important because it means the payback period on purchasing these machines is effectively half the time for the SEALMINER A2s: A2 Pro Hyd Pricing (MiningNow) The screen shot above shows the payback period on the A2 Pro Hyd is just 262 days given current market conditions. Antiminer S23 Hyd 3U has a payback period closer to 540 days. To me, the real question for Bitdeer investors going forward is can the company scale SEALMINER sales? ASIC Market TAM (Bitdeer) The company certainly believes this to be the case and projects $6.4 billion in revenue between 2025 and 2027 if it can achieve 30% share of the market. Bitdeer spent $59 million on R&D in the quarter - this spend was tied to development of the SEALMINER A3 and A4 units that are expected later this year. Bitdeer is guiding for 5.5-6 joules per TH on the A4s. Which, if achieved, would be a groundbreaking efficiency in the ASIC industry. $330 Million Convertible Note Offering Bitdeer announced a $300 million senior convertible note offering in mid-June. That offering was subsequently up-sized to $330 million and the notes pay 4.875% through July 1st, 2031. Each $1,000 in capital raised has a common stock conversion rate of 62.9921 Class A ordinary shares or $15.88 per share. Possible dilution from the converts - assuming it makes financial sense for the note holders to take BTDR shares - would be 20.8 million shares. Of the roughly $320 million in proceeds from the offering, Bitdeer will spend just under $130 million to pay for a zero-strike call transaction that would limit dilution risk to shareholders. Most of the remaining capital is earmarked for data center growth, ASIC development, working capital, and general corporate purposes. The call transaction is interesting to me. The calls are designed for conversion hedging and flexibility. At 10.2 million shares and a premium of $129.6 million, the price of BTDR stock has to exceed $12.70 per share to justify the wager. At current BTDR prices - $10.98 on June 24th close - you could argue the premium paid for that call transaction could have been better served as a simple repurchase plan rather than as an options play. For instance, at $11 per share, open market repurchases with $129.6 million buy 11.9 million BTDR shares rather than the 10.2 million from the call strategy. It's still very early, but with the benefit of hindsight, the short-term impact of the call strategy appears negative, from where I sit. The company is betting capital based on the assumption that its share price will increase. Which is a positive sign if you're a believer in Bitdeer's growth prospects. I'm much less convinced that Bitdeer can scale self-mining EH/s to 40 by Q4 this year based on where it was at the end of May. But I've been wrong about this company in the past and that could certainly happen again. Valuation Relative to Peers In the past, one of my biggest concerns about Bitdeer stock was its valuation relative to peers. I've typically looked at those valuations through price to book and price to sales multiples. The price to book story looks much better than it has in the past: Data by YCharts At just 2.7x book, BTDR is far less expensive than it was at the beginning of 2025 and is now a bit more in line with peers. The same is true for the forward sales multiple: Data by YCharts Here, we actually see BTDR is on the cheap side at just 2.7x forward sales. This puts the company below the info tech sector median of 2.8x forward sales and well below what we're seeing from the rest of the top miners in the industry. Closing Summary Now that we have a quarter of SEALMINER sales to assess, I'm coming around on Bitdeer. Not only were the mining machine sales the most profitable business for Bitdeer on a gross margin basis, but the cost per TH numbers from the A2 rigs are actually very good. Remember, my original bearishness BTDR has been due to Cloud Hash - this was a business that was unsustainable because it was a poor product for the plan purchasers. I'd argue the opposite is true for Bitdeer's mining machines. Those look cost effective and efficient given current market conditions. The question is whether or not Bitdeer can scale those sales. Based on the use of proceeds from the recent convertible note offering, I'd argue the company is betting on itself to achieve some of the numbers laid out in its TAM projections for ASIC growth. At $11 per share, the stock isn't nearly as overvalued as it was at the end of 2024 and it could be argued BTDR is actually cheap compared to mining stock peers. I'm upgrading BTDR from 'sell' to 'hold.'
Bitcoin inflows to Binance have sharply declined, signaling a potential reduction in short-term selling pressure amid BTC’s strong price performance above $105,000. This decrease in exchange inflows contrasts with previous
Influential business leader and outspoken crypto figure Edo Farina has issued a powerful warning to the XRP community, urging holders to stay committed no matter the circumstances. In a strongly worded post on X, Farina wrote, “I’ve seen too many people regret they sold $XRP under $2. Even if World War III breaks out, even if the sky falls, you do not break Commandment #1: NEVER SELL $XRP.” He followed up with a striking statement: “Paradoxically, that’s exactly when you need to HODL, because when chaos reigns, utility wins.” Farina’s remarks have resonated deeply with longtime XRP holders who have weathered years of volatility and doubt. For him, holding XRP is not just a market strategy; it’s a principle rooted in confidence and long-term vision. I’ve seen too many people regret they sold $XRP under $2. Even if World War III breaks out, even if the sky falls, you do not break Commandment #1: NEVER SELL $XRP . Paradoxically, that’s exactly when you need to HODL, because when chaos reigns, utility wins. — EDO FARINA 🅧 XRP (@edward_farina) June 24, 2025 The High Cost of Selling Too Soon The warning is especially pointed given the history of XRP’s price action. Over the years, many early investors exited their positions out of fear or impatience, only to watch the asset rally after they sold. Farina points to the sub-$2 sell zone as a common regret point—a level where countless traders locked in small gains but ultimately missed out on the broader narrative. Today, with XRP trading below its historical highs and yet to fully realize its projected potential, Farina believes many investors are once again at a crossroads. His message serves as both a reminder and a challenge: don’t repeat the mistakes of the past by abandoning your position prematurely. Conviction amid Chaos Farina’s declaration that one should “HODL when chaos reigns” is especially striking. While financial markets remain sensitive to global shocks, from economic instability to geopolitical conflict, his message flips conventional wisdom on its head. Rather than retreating in fear, Farina argues that uncertain times are exactly when XRP holders should dig in and remain unshaken. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 For him, XRP’s strength lies in its underlying utility and future relevance, not short-term hype. It’s this firm belief in purpose and function that fuels his commitment. In Farina’s view, those who understand this will hold, regardless of the noise, panic, or price swings. A Defining Moment for Holders Edo Farina’s words cut through the noise of speculation and short-term thinking. His “Commandment #1” isn’t just about never selling—it’s about adopting a mindset of clarity and discipline. It challenges investors to see beyond charts and headlines and to focus on conviction over convenience. In a market where fear and euphoria often cloud judgment, Farina’s stance offers a grounding perspective. His message: if you truly believe in XRP’s value, now is the time to hold firm, not fold under pressure. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Business Leader Issues Warning to XRP Holders: Do Not Break Commandment 1 appeared first on Times Tabloid .
As the crypto landscape evolves, investors are hunting for early-stage opportunities that blend credibility with significant upside. In 2025, MAGACOIN FINANCE has risen to prominence as a preferred alternative for Bitcoin (BTC) and XRP traders moving beyond legacy ecosystems like TRON , driven by its scarcity-based framework and growing analyst support. MAGACOIN FINANCE: The Market’s New Favorite MAGACOIN FINANCE brings together the viral appeal of meme culture with structural depth and institutional-grade mechanics. With over $10 million raised in presale and every phase selling out rapidly, it offers a capped 170 billion token supply , a full HashEx audit , and a 100% community-led model. The absence of venture capital control, coupled with on-chain accumulation trends and staking rewards, has set it apart from typical pre-launch tokens. For Bitcoin and XRP traders seeking clarity and early-stage momentum, MAGACOIN FINANCE is emerging as the favored strategic pivot . Bitcoin: Rotating Profits into High-Upside Plays Bitcoin remains the foundation of many portfolios, holding above $105,000 amid institutional flows and macro strength. Yet as returns begin to normalize, BTC holders are increasingly rotating into projects like MAGACOIN FINANCE —a shift that reflects a desire to harness asymmetrical upside before mainstream listings. XRP: Seeking Cleaner Narratives and Growth XRP continues to dominate the payments arena but remains burdened by ongoing legal complexities and stalled price movement. That’s why many in the XRP community are moving capital into MAGACOIN FINANCE , drawn by its transparent governance, scarcity model, and momentum-driven adoption. TRON: Stable Growth Meets New Competition TRON’s steady ecosystem growth in stablecoins and dApps has kept it on radar, but some traders are seeking more dynamic setups. For these investors, MAGACOIN FINANCE offers a faster-moving alternative, built on structure, transparency, and aggressive early growth—qualities that TRON’s more measured expansion currently lacks. Conclusion With a scarcity-based design, real market traction, and growing interest from Bitcoin and XRP traders, MAGACOIN FINANCE is becoming a top alternative to TRON in 2025. Its fundamentals, clean structure, and growing demand are fueling momentum—positioning it as one of the most compelling early entries this year. To learn more about MAGACOIN FINANCE, visit: Website: https://magacoinfinance.com Exclusive Access Portal: https://magacoinfinance.com/entry Continue Reading: Analysts Reveal MAGACOIN FINANCE as Bitcoin and XRP Traders’ Favorite Alternative to TRON
Tech stocks were led slightly higher as the S&P 500 approached record levels following the Israel–Iran ceasefire. Major U.S. stock indices were mixed as the S&P 500 approached its all-time high. On Wednesday, June 25, the Dow Jones was down 151.95 points, or 0.35%, while the tech-focused Nasdaq gained 0.24%. The S&P 500 was mostly flat, trading at 6,090 points, close to its February all-time high of 6,144. Stocks are stabilizing after a major rally earlier this week on the Iran–Israel ceasefire. Just days ago, tensions had threatened to escalate into a broader regional war, with the U.S. facing another potential Middle East entanglement. Now, markets are adjusting back to their normal dynamics. Crude oil prices also rose 2% to $65 per barrel after dropping from the monthly highs reached during the conflict. On the other hand, tech stocks are gaining as traders see signs of potential rate cuts this year. Dow Jones Industrial Average heatmap | Source: TipRanks Nvidia near ATH, Trump looking for Powell’s replacement In particular, Nvidia had strong gains , rising 3.4% to $152.93. This puts it on track to surpass its intraday all-time high of $153.13, last seen in January. The rally also pushed Nvidia’s market cap to $3.71 trillion, surpassing Microsoft’s $3.65 trillion. You might also like: Retail traders dumped $258m in Nvidia stock: Will they buy Bitcoin instead? The rally was likely fueled by Bank of America’s guidance on the stock, which identified it as the leader in AI chips. Moreover, Nvidia and the broader AI sector could benefit from the easier monetary policy that U.S. President Donald Trump is advocating. After months of pressuring Federal Reserve Chair Jerome Powell, Trump stated that he is actively seeking a replacement. The President said he is now down to 3 or 4 candidates to replace Powell as Fed Chair. Trump did not say whether he would fire Powell before his term officially ends in May 2026. Read more: Big Tech is too big to win the AI future | Opinion
Metaplanet, a Japanese-listed company, has made a landmark move by raising $515 million to significantly expand its Bitcoin holdings, signaling a major shift in corporate treasury strategies. This bold capital
Gaming retailer GameStop (GME) has raised an additional $450 million through the additional sale of zero-coupon convertible senior notes, the company announced in a filing with the U.S. Securities and Exchange Commission (SEC) on Tuesday. This latest move follows last week’s $2.25 billion private bond issuance, bringing the total capital raised to $2.7 billion. The additional notes were sold upon the full exercise of a 13-day greenshoe option granted to the initial investor. The notes, due 2032, are convertible into GameStop Class A common shares at $28.91 per share, a 32.5 percent premium to the volume-weighted average of the shares at the time of the initial offering on June 12. Related News: Fearless Giant Whale James Wynn Couldn't Resist: Revealed His New Bitcoin (BTC) Position and Expectations! GameStop said it will use the capital raised for general corporate purposes and in line with the company’s investment policy, which includes investing in digital assets like Bitcoin (BTC) as treasury reserves. The company joins the ranks of public companies adopting the practice of holding crypto reserves, following a similar path to the cryptocurrency strategy pursued by Strategy, led by Michael Saylor. GameStop implemented the strategy by purchasing 4,710 Bitcoins for about $500 million following its $1.3 billion bond offering in May. *This is not investment advice. Continue Reading: GameStop, One of the Most Talked-About Companies in the US, Makes Another Move to Purchase a Massive Amount of Bitcoin
A sharp drop in BTC inflows to Binance could play a role in Bitcoin possibly rallying to $120,000.
After dropping crypto in 2023, SoFi is getting back in the game with Bitcoin and Ethereum trading, stablecoins, lending, and beyond.