From GlobeNewswire: 2024-03-28 16:45:00

Bitdeer Technologies Group (NASDAQ: BTDR) announced its financial results for 2023, with total revenue at US$368.6 million, a 10.6% increase from 2022. The company reported a net loss of US$56.7 million, adjusted profit at US$22.0 million, and adjusted EBITDA of US$100.3 million. Cash and equivalents stood at US$144.7 million as of December 31, 2023.

Bitdeer focused on strategic growth in 2023, mining 3,694 Bitcoins with revenues driven by self-mining, hash rate sharing, and hosting services. The successful testing of its first Bitcoin mining chip, the 4nm SEAL01, marked the company’s entry into ASIC production, poised to reach at least 46 EH/s hash rate by 2025.

Revenue breakdown for Bitdeer in 2023 included US$111.7 million from self-mining, US$67.9 million from cloud hash rate, US$97.3 million from general hosting, and US$79.9 million from membership hosting. Total revenue for the year was US$368.6 million, reflecting increases in self-mining hash rate and Bitcoin production.

Total hash rate under management for Bitdeer was 21.0 EH/s in 2023, with proprietary hash rate at 8.4 EH/s and hosting hash rate at 12.6 EH/s. The company mined 3,694 Bitcoins, managed 215,000 mining machines, and had an aggregate electrical capacity of 895MW across six data centers in 2023. Average cost of electricity was approximately US$38/MWH.



Read more at GlobeNewswire:: Bitdeer Reports Financial Results for the Full Year 2023