Bitdeer 2023 Q1 Net Loss Of $9.5 Million With Total Revenue Of $72.6 Million


Adjusted revenue of $2.8 million in Q1 2023 with a complete managed hashrate of 18.3 EH/s, of which proprietary hashrate elevated from 4.1 EH/s on December 31, 2022, to five.7 EH/s (3.9 EH/s for self-mining enterprise; 1.8 EH/s for cloud computing energy enterprise) on March 31, 2023.

The corporate’s web loss within the first quarter of 2023 was $9.5 million, in comparison with a web lack of $9.6 million in the identical time in 2022. The first supply of the online loss in each durations was share-based expenditures, which have been $12.3 million within the first quarter of 2023 and $35.2 million within the first quarter of 2022.

The miner reported that its managed computing energy is 12.6 EH/s, self-digging enterprise mined 552 Bitcoins within the first quarter of 2023.

Bitdeer additionally reported that its gross revenue was $13.5 million within the first quarter of 2023, representing a gross margin of 18.6%, in comparison with $41.4 million, or a gross margin of 45.7%, in the identical interval of 2022, owing to a change in complete income and a rise in electrical energy and depreciation prices associated to the growth of the Firm’s mining datacenters.

Linghui Kong, Chief Govt Officer of Bitdeer, said:

“We continued to ship sturdy efficiency and maintained a enough money move throughout the first quarter, regardless of macroeconomic and crypto-market headwinds.”

BitDeer established a strategic partnership with Druk Holding & Investments, a industrial establishment within the Kingdom of Bhutan, on Might 3 to develop an environmentally sustainable, carbon-free digital asset mining enterprise within the Kingdom of Bhutan.

DISCLAIMER: The knowledge on this web site is supplied as basic market commentary and doesn’t represent funding recommendation. We encourage you to do your analysis earlier than investing.

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