Bitcoin miner Bitdeer’s Q3 revenue jumps 174% as firm adds over 500 BTC
Bitdeer reported a 174% year-over-year revenue jump in Q3, though it posted a net loss due to a convertible notes charge.Summary
Bitcoin miner Bitdeer Technologies Group (BTDR) announced significant financial growth for the third quarter, with total revenue soaring 173.6% year-over-year to $169.7 million, and gross profit increasing substantially to $40.8 million from $2.8 million in Q3 2024. Despite this strong operational performance, which included an Adjusted EBITDA of $43.0 million, the company recorded a net loss of $266.7 million stemming from a charge related to convertible senior notes. Bitdeer also expanded its Bitcoin holdings, increasing its treasury reserves to 2,029 BTC from 1,502 BTC the prior quarter, and its self-mining hashrate reached 41.2 EH/s. The company is also making progress on next-generation efficiency goals, with its first SEAL04 chip showing promising test results.
(Source：The Block)