Antalpha, the Singapore-based fintech firm focused on bitcoin miner financing, opened 2025 with its strongest quarter yet.
This is the first quarterly filing from the company since it IPOed on the Nasdaq on May 14. Antalpha raised $56.7 million with its IPO, with stablecoin issuer Tether buying an 8.1% stake.
Read More: Tether Eyes $25 Million Stake in Upcoming Antalpha IPO
Antalpha’s Q1 revenue climbed 41% year-over-year to $13.6 million, while net income rose 423% to $1.46 million. The company’s adjusted EBITDA jumped 392% year-over-year to $2.49 million.
Antalpha’s lending book tells the same growth story. Total loans outstanding reached $1.77 billion (64% year-over-year), driven by a 98% surge in bitcoin-backed loans to $1.19 billion.
Looking further at the books, the company’s supply-chain loans grew 22% annually to $580 million. Tech platform fees tied to its bitcoin loans also quadrupled, underscoring CFO Paul Liang’s comments that profitability is expanding faster than revenue.
Separately, the company has accumulated $20 million in Tether’s gold token (XAUt)—a distinctive move among crypto companies. The company plans to invest up to $40 million in XAUt before June 30, 2025.
Antalpha provided forward guidance for Q2, estimating $16-17 million in revenue, which implies 40-50% growth if Bitcoin holds near $100,000.
As of publication, ANTA is up 1.33% over the last 5 days.
Blockspace has reached out to Tether and Antalpha for comment. Check back for updates.
