BTC ecosystem service firm Antalpha posts 423% YoY net income growth in Q1

Singapore-based fintech firm Antalpha, which focuses on the bitcoin mining ecosystem, saw its net income expand 423% year-over-year to $1.46 million in the first quarter of 2025.

The company's unaudited first-quarter results, released Tuesday, showed total revenue rose 41% year-on-year to $13.6 million, up from $9.65 million.

Antalpha provides digital asset lending, financing, and risk management solutions, primarily for bitcoin miners, through its Antalpha Prime platform. It is also a strategic partner of Bitmain. The company went public on the Nasdaq last month.

In the release, the firm credited its Antalpha Prime platform as the key driver behind the profit growth.

"The scalability of Antalpha Prime's fintech platform has enabled us to grow profitability faster than revenue," said Antalpha CFO Paul Liang. "On top of our strong core business, the company is exploring new areas of digital asset lending, including enabling our partners to provide Ethereum-collateralized loans and our clients to finance GPUs for AI inference computing.”

Breaking down its revenue structure, the company generated $3.5 million in tech platform fees from bitcoin loans in the first quarter, marking a 286% year-on-year increase. It also recorded $10.1 million in tech financing fees from supply chain loans, up 15% over the same period.

In its May IPO, Antalpha raised $56.7 million by issuing 4.4 million shares, with Tether acquiring 1.9 million shares for an 8.1% stake. The company also acquired $20 million in Tether Gold (XAUt) to hedge macroeconomic volatility and support its lending collateral pool.

The fintech firm forecasted second-quarter revenue of $16 million to $17 million, subject to market uncertainties.

Meanwhile, Antalpha shares closed down 4.69% on Tuesday at $12.19, but recovered 6.64% in after-hours trading, according to Google Finance data .