According to ChainCatcher, 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.
Matt Kong, Bitdeer's chief business officer, said the company started mass production of the first batch of SEALMINER A1 chips this quarter and plans to install 3.4 EH/s computing power in its own data center by the end of the year. The initial tape-out wafers of the second-generation SEAL02 chip will be delivered from TSMC and are expected to be delivered at the end of September. After successful testing, mass production is expected to be achieved by the end of the year. In addition, the research and development of the third-generation SEAL03 chip has also begun.
