Bitdeer’s total revenue for Q1 2024 was $119.5 million, a year-on-year increase of 64.6%

ChainCatcher news, Bitdeer announced its unaudited financial performance and operational update for the first quarter of 2024.

Details:

• Total revenue was $119.5 million, compared to $72.6 million in the first quarter of 2023.
• Net profit was $600,000, compared to a net loss of $9.5 million in the first quarter of 2023.
• Adjusted profit was $8.4 million, compared to $2.8 million in the first quarter of 2023.
• Adjusted EBITDA was $26 million, compared to $18.5 million in the first quarter of 2023.
• As of March 31, 2024, cash and cash equivalents were $118.5 million.