Bitdeer Technologies Group · Q4 2023 earnings

Briefing

Bitdeer Technologies Group reported its financial results for the full year ended December 31, 2023, showing an increase in total revenue and adjusted EBITDA, alongside a net loss.

Bitdeer Technologies Group reported a total revenue of $368.6 million for the full year 2023, an increase from $333.3 million in 2022. The company achieved an adjusted EBITDA of $100.3 million, up from $93.2 million in the previous year, but recorded a net loss of $56.7 million. The increase in revenue was primarily driven by growth in self-mining and hosting businesses, while Cloud Hash Rate revenue decreased.

• Total revenue for the full year 2023 increased by 10.6% to $368.6 million.
• Adjusted EBITDA grew by 7.6% to $100.3 million in 2023.
• The company reported a net loss of $56.7 million for the full year 2023.
• Bitcoin mined from self-mining increased by 74.8% year-over-year to 3,694 Bitcoins.

Headline financials

Revenue & EPS history

Bitdeer is confident in its positioning for the upcoming halving due to its diversified business model and access to low-cost power. The company plans to build on its achievements from its first year as a listed company to deliver long-term value for shareholders.