According to BlockBeats, BitDeer announced unaudited financial results and operational updates for the first quarter of 2024. Total revenue in the first quarter was $119.5 million, a year-on-year increase of 64.6%, compared with $72.6 million in the first quarter of 2023. Net profit was $600,000, compared with a net loss of $9.5 million in the first quarter of 2023. Adjusted profit was $8.4 million, compared with $2.8 million in the first quarter of 2023. The financial report pointed out that the revenue growth was mainly due to the increase in the company's self-mining business revenue due to the increase in self-mining computing power and the increase in Bitcoin production. As of March 31, 2024, cash and cash equivalents were $118.5 million.