Bitdeer Technologies Reported Strong Growth in 2023

Bitdeer Technologies Group (NASDAQ: The four key financial indicators for BTDR are as follows. The company recorded a healthy economic performance with remarkable numbers that ended on December 31st, which is the financial year 2023. Growth was also reflected in total revenue, US$368.6 million in 2023 compared to US$333.3 million gained in 2022, and both figures demonstrate a significant increase. 

Besides annual debit of US$56.7 million against US$60.4 million in 2022, the net profit of the company has been established to be US$22.0 million and US$100.3 million in adjusted EBITDA. As of the end of the year, December 31, the number of cash and cash equivalents reached US$144.7 million.

Through a 74.8% year-over-year increase from 2,625 to 3,694 Bitcoins obtained during the year 2023, Bitdeer is a clear testament to its operational strategies that are effective. The introduction of mining data centers further improved the company’s existing 21.0 EH/s total hash rate, which helped to enhance its self-mining, cloud hash rate, and hosting services. On another note, the company came up with the SEAL01 bit mining chip and implemented the DGX100 SuperPOD system with the use of an NVIDIA chip.

Also read:

Sui Spikes in Weekly DEX Volume, Joins Top 10 of All Blockchains