BITFIRE GROUP (01611) announced that for the six-month period ending March 31, 2026, the Group expects to incur a net loss not exceeding approximately HK$245 million. This compares to a net loss of about HK$12.3 million for the corresponding period in 2025.

The announcement stated that the expected increase in net loss is primarily attributable to the combined impact of the following factors: (i) a net fair value loss on crypto assets of approximately HK$152.4 million, mainly resulting from a decrease in the fair value of crypto assets held on a compliant exchange in Japan; (ii) an increase in operating expenses of approximately HK$69.6 million, primarily due to measures taken by the Group to enhance its professional capabilities and customer service quality to support business growth and meet new customer demand; (iii) an increase in research and development expenses of approximately HK$13.2 million, mainly due to the ongoing development of competitive technology-enabled products and services; and (iv) the absence of a one-time reversal of an impairment provision for other receivables of approximately HK$10.3 million recognized in 2025 due to the recovery of funds.