From Hero to Zero: How Bitdeer Lost 32% Despite Mining 1,109 Bitcoin
Bitdeer's stock plummeted nearly 32% following a quarterly loss of $266 million, despite strong revenue growth and mining 1,109 BTC.Summary
Bitdeer Technologies experienced a nearly 32% stock drop, closing at $17.65, after reporting a significant quarterly net loss of $266.7 million, reversing a prior 30% rally fueled by AI expansion plans. Although the company saw revenue surge 174% year-over-year to $169.7 million and mined 1,109 Bitcoin during the quarter, the substantial net loss—driven primarily by non-cash revaluation losses on convertible debt—overshadowed these operational successes. Bitdeer had previously announced plans to allocate 200 MW for AI services, aiming for over $2 billion in annual revenue by 2026, which initially boosted investor confidence. However, the market reacted negatively to the reported paper losses and high capital expenditures associated with this aggressive infrastructure expansion.
(Source：BeInCrypto)