BITDEER(US:BTDR) Globenewswire·2025-12-17 17:47Core Viewpoint - Bitdeer Technologies Group is facing a class action lawsuit due to significant financial losses and misleading statements regarding its product development, particularly the Seal 04 ASIC chip, which has been delayed contrary to previous positive assertions [2][4]. Financial Performance - On November 10, 2025, Bitdeer reported a per-share loss of $1.28 for Q3 2025, significantly worse than the expected loss of $0.22, indicating a substantial financial setback for the company [2]. - Following the announcement, Bitdeer's stock price dropped by $2.63, or 14.9%, closing at $15.02 per share on November 11, 2025, reflecting investor reaction to the disappointing results [3]. Product Development Issues - The company disclosed that the development of its next-generation Seal 04 ASIC chip has been substantially delayed, which contradicts earlier positive statements made by Bitdeer regarding the chip's readiness and efficiency [2][4]. - The Seal 04 chip was projected to have a chip-level energy efficiency of 5 J/TH and was expected to be ready for mass production in Q2 2025, but this timeline has not been met [4]. Legal Proceedings - A class action lawsuit has been filed on behalf of investors who purchased Bitdeer securities between June 6, 2024, and November 10, 2025, with a deadline of February 2, 2026, to file a lead plaintiff motion [1][5]. - The lawsuit alleges that Bitdeer made materially false and misleading statements and failed to disclose adverse facts about its business and operations during the class period [4].