BitDeer’s Q3 revenue in 2023 will reach US$87.3 million, and its net loss will be significantly reduced to US$18 million.
On November 14th, BitDeer Technology Group (NASDAQ code: BTDR) announced its unaudited financial performance for the third quarter of 2023. The report shows that the company's total revenue for the third quarter was $87.3 million, a 14% increase from $76.6 million in the same period in 2022. Net loss decreased from $22.1 million in the same period in 2022 to $18 million. Adjusted profit reached $10.5 million, compared to a loss of $4.1 million in the same period in 2022. Adjusted EBITDA was $28 million, a significant increase from $8.7 million in the same period in 2022. As of September 30, 2023, the company's cash and cash equivalents were $134.5 million.
BitDeer CEO Kong Linghui commented that these achievements are mainly attributed to the increase in the number of bitcoins mined by the company's self-mining business and the 64% growth in the total hash rate managed, reaching 21.2 EH/s. In addition, the company also announced a new $2 million stock repurchase plan and expects to launch Bitdeer AI Cloud in the first quarter of 2024.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Justin Sun Highlights the Promising Future of JST Token Through JustLend
In Brief Justin Sun sees great potential for JST tokens through JustLend's growth. Buyback and token burn strategies aim to enhance JST's market value. Investors are advised to analyze TRON's evolving landscape cautiously.

The Melania team used a fixed investment strategy to sell 3.19 million MELANIA
Matrixport: New capital inflows indicate that Bitcoin is expected to break through $100,000
Bitcoin's 10% Surge Sparks Optimism for SUI, AVAX, TRUMP, and TAO

Trending news
MoreCrypto prices
More








