Bit Deer Q3 2023 Financial Report: Produced 1,085 BTC, total revenue reached 87.3 million USD

ChainCatcher news, Bitdeer Technology Group (NASDAQ: BTDR) today announced its unaudited financial results for the third quarter of 2023. The report shows that the company's total revenue for the third quarter was $87.3 million, an increase of 14% compared to $76.6 million in the same period of 2022; the net loss decreased from $22.1 million in the same period of 2022 to $1.8 million. Adjusted profit reached $10.5 million, compared to a loss of $4.1 million in the same period of 2022. Adjusted EBITDA was $28 million, a significant increase from $8.7 million in the same period of 2022.

As of September 30, 2023, the company had cash and cash equivalents of $134.5 million.

Bitdeer CEO Kong Linghui commented that these results are mainly attributed to the increase in the number of bitcoins mined through the company's self-mining operations, which mined 1,085 bitcoins, a year-on-year increase of 121%. In addition, the company announced a new $2 million stock repurchase plan and expects to launch Bitdeer AI Cloud in the first quarter of 2024.