Bitdeer's Q3 revenue in 2023 reached $87.3 million, with a significantly reduced net loss of $18 million.

BlockBeats News, November 14th, Bitdeer Technology Group (NASDAQ: 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, an increase of 14% 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 with 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 were mainly due to the increase in the number of bitcoins mined by the company's own mining business and the total hash rate managed, which increased by 64% to 21.2 EH/s. 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.