Antalpha’s (NASDAQ: ANTA) reported Q2 revenues of $17.01 million, up 49% year over year. The company’s net income was $0.67 million, down 41% from a year ago, while non‑GAAP net income rose to $3.27 million.
Of note, the Singaporean company’s total loan value reached $2.05 billion, up 58% since last year. This includes $714 million in bitcoin mining supply‑chain loans and $1.34 billion in margin‑loans, a respective increase of 75% and 50% year-over-year. The company financed 75.6 EH/s of hashrate capacity (about 8.8% of Bitcoin’s hashrate) over the quarter.
Antalpha also disclosed a $20 million Tether Gold (XAUt) treasury position as a “test pilot for a digital-gold treasury strategy.” The move tracks the trend of emergent crypto treasury companies that are accumulating crypto assets, although via a tokenized physical asset.
For Q3 2025, Antalpha expects to pull $21–22 million in revenue, implying 62–69% year‑over‑year growth, and it targets a 20–24% adjusted EBITDA margin.
Read More: What Antalpha’s loan book can tell us about its relationship with Bitmain
At time of publication, ANTA is up 0.8% during pre-market hours.
