Antalpha Posts 423% Net Income Surge in Q1 2025, Fueled by Bitcoin Lending Boom

Singapore-based fintech firm Antalpha (NASDAQ: ANTA), a key player in the Bitcoin mining ecosystem, reported a stellar 423% year-over-year (YoY) net income growth in the first quarter of 2025, reaching $1.46 million.

The company’s unaudited financial results, released on June 17, 2025, highlight a 41% revenue increase to $13.6 million, driven by robust demand for its digital asset lending and risk management solutions.

Financial Performance and Lending Growth

Antalpha’s Q1 2025 results showcase significant financial milestones. Total revenue climbed to $13.6 million, up from $9.65 million in Q1 2024, while net income soared from $0.28 million to $1.46 million. Non-GAAP net income reached $1.8 million, reflecting a 554% YoY increase, and adjusted EBITDA grew 392% to $2.49 million.

The company’s lending portfolio expanded by 64% to $1.77 billion, with Bitcoin-backed loans surging 98% to $1.19 billion and supply chain loans rising 22% to $0.58 billion. Technical platform fees from Bitcoin lending doubled to $3.5 million, while supply chain financing fees grew 15% to $10.1 million.

“The scalability of Antalpha Prime’s fintech platform has enabled us to grow profitability faster than revenue,” said Paul Liang, Chief Financial Officer of Antalpha.

The company’s strategic partnership with Bitmain, a leading Bitcoin mining hardware provider, further bolstered its market position.

Strategic Milestones and New Ventures

Antalpha’s Q1 success follows its Nasdaq debut on May 14, 2025, where it raised $56.7 million through an initial public offering (IPO). Tether, acquired an 8.1% stake in the company, signaling strong confidence in Antalpha’s growth trajectory.

As part of its strategy to hedge against macroeconomic volatility, Antalpha has accumulated $20 million in Tether Gold (XAUt), a stablecoin backed by physical gold, with plans to allocate up to $40 million by mid-2026.

Looking beyond Bitcoin, Antalpha is exploring new digital asset lending opportunities. The company is developing solutions for Ethereum staking loans and GPU financing for AI inference computing, aiming to diversify its portfolio.

“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,” said Paul Liang.

Outlook for Q2 2025

Antalpha projects Q2 2025 revenue between $16 million and $17 million, representing a 40-50% YoY growth, assuming Bitcoin prices remain above $100,000.

The company’s optimism is underpinned by stable Bitcoin market conditions and growing institutional adoption of cryptocurrencies. With its Antalpha Prime platform gaining traction and new ventures on the horizon, Antalpha is poised to maintain its leadership in the Bitcoin ecosystem while expanding into emerging digital asset markets.