Bitdeer Technologies (BTDR) has released an update.
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Bitdeer Technologies reported a significant drop in third-quarter revenue to $62 million from $87.3 million a year ago, alongside a net loss of $50.1 million, as the company navigates challenges including increased global hash rates and decreased hosting revenue. Despite these setbacks, the company is advancing its SEALMINER mining rigs and expanding its high-performance computing and AI operations, with promising demand for their cutting-edge technology. Bitdeer remains financially robust with $291.3 million in cash and is focused on strategic growth initiatives to leverage their global power capacity.
For further insights into BTDR stock, check out TipRanks’ Stock Analysis page.
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