Bitdeer’s total revenue for the second quarter was $99.2 million

ChainCatcher news, Bitdeer announced its unaudited financial results for the second quarter of 2024.

Specific information:

• Total revenue was $99.2 million, compared to $93.8 million in the second quarter of 2023.
• Cost of revenue was $74.8 million, compared to $77.7 million in the second quarter of 2023.
• Gross profit was $24.4 million, compared to $16.2 million in the second quarter of 2023.
• Net loss was $17.7 million, compared to $40.4 million in the second quarter of 2023.
• Adjusted EBITDA was $24.9 million, compared to $18.7 million in the second quarter of 2023.
• As of June 30, 2024, cash and cash equivalents were $203.9 million.

Bitdeer Chief Business Officer Matt Kong stated that the company launched the mass production of the first batch of SEALMINER A1 chips this quarter and plans to install 3.4 EH/s of computing power in its own data centers by the end of the year. The initial wafer for the second-generation SEAL02 chips will be delivered by TSMC, expected by the end of September. After successful testing, mass production is anticipated before the end of the year. Additionally, the development of the third-generation SEAL03 chips has also begun.