Bitdeer Stock Slumps as Q2 Loss Widens Amid Revenue Growth

Bitdeer Technologies Group reported its second-quarter financial results on August 10, showing a wider net loss despite a significant increase in revenue.

The company's total hash rate under management rose to 86.1 EH/s from 30.6 EH/s a year earlier, while Bitcoin production increased to 2,694 BTC from 565 BTC.

The $92.3 million net loss was a result of the sharp increase in costs, which outweighed the revenue growth. Bitdeer's cost of revenue rose to $237.3 million, leading to an $8.5 million gross loss.