The Bitdeer Technologies Group reported a loss of $ 531.9 million for the fourth quarter of 2024, which had increased by $ 5 million in the same period last year.
Bitdeer, blockchain and fast computing-focused company Issued Financial results for the fourth quarter and full year of 2024. The company reported a net loss of $ 531.9 million for the quarter compared to a loss of $ 5 million in the same period last year. The total revenue for the fourth quarter of 2024 was $ 69 million, below $ 114.8 million in the fourth quarter of 2023.
Revenue declines and increased net loss are attributed to strategic investment in developing ownership applications-specific integrated circuit technology (ASIC) that temporarily limits the hasht development. Despite these challenges, Bitdeer organized $ 476.3 million in cash and cash counterparts on 31 December 2024.
Bitdier’s technical plan
This year, Bitdier has planned to activate its sealminer A1S and 28 exhalations per second to the sealminer A2S, aiming to achieve a total self-lection of about 40 acids per second by the fourth quarter of 2025. This expansion is part of Bitter’s strategy. Integrate and strengthen your competitive position in the blockchain and high-demonstration computing industry.
As a writing, Bitdeer’s stock (BTDR) is trading at $ 9.10, which is more than 30% a day.
Industry outlook
Adequate disadvantage has increased concerns among investors, but Bitdier’s 2.6-gigawatt power growth and Artificial Intelligence Data Center plan can support a recovery. This trend is not unique to Bitdier, as bitcoin miners, including Cruce Energy, have begun to lease artificial intelligence data center to diversify the revenue currents.
The comprehensive bitcoin mining industry continues to face challenges after the April 2024 Halling event that reduced the daily bitcoin awards from 900 to 450 coins. The deficiency has increased the average cost of producing a bitcoin to US-listing miners to $ 55,950 in the third quarter of 2024, including some estimates, including depreciation and stock-based compensation, which access to $ 106,000 Has gone.
However, some analysts remain rapidly in the attitude of the industry. In particular, HC Vener analysts recently stated in a note that the fourth quarter of 2024 was a positive period for bitcoin miners as the first asset was exceeding $ 100,000, which was under the return of President Donald Trump to White The pro-cryptocurrency was inspired by adoption after policies. Home.
