Bitdeer Technologies reported a significant increase in its Q3 2023 revenue, reaching $169.7 million, marking a 173.6% rise compared to the previous year. The company's gross profit also saw a substantial increase, climbing to $40.8 million from $2.8 million in the same period last year. Despite a net loss of $266.7 million attributed to convertible bond losses, Bitdeer's adjusted EBITDA was $43 million. The company expanded its Bitcoin holdings by 527 BTC, bringing the total to 2,029 BTC, valued at approximately $214 million. Bitdeer's self-mining hash rate reached 41.2 EH/s, and its new SEAL04 chip demonstrated an energy efficiency of 6–7 J/TH in testing, setting the stage for future production growth.
Bitdeer Q3 Revenue Soars 173.6% to $169.7 Million, Bitcoin Holdings Top 2,000 BTC
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