Bitdeer Q2 Bitcoin Output Soars Fivefold Amid Revenue Surge

Bitdeer Technologies Group posted significant growth in its second-quarter results, with Bitcoin output soaring nearly fivefold from a year earlier. The company mined 2,694 Bitcoin in the quarter, up from 565 in the same period last year.

The increase in Bitcoin output led to a 47% rise in revenue to $228.8 million, with self-mining revenue accounting for $168.4 million of that total. Bitdeer's self-mining hash rate also surged 389% to 69.5 exahashes per second.

However, the company's net loss widened to $92.3 million from $62.9 million a year earlier. Its Bitcoin holdings also plummeted 90%, down from 1,502 to just 150 as of the end of the quarter.