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Bitdeer, a leading crypto mining firm, reported a net loss of $531.9 million in Q4 2024, driven by declining Bitcoin prices and non-cash derivative losses. The company’s revenue fell sharply to $69 million, down from $114.8 million in the same quarter last year.
- Bitdeer’s Q4 net loss of $531.9M was largely due to $469.5M in non-cash derivative liability adjustments.
- The firm aims to boost its proprietary hash rate to 40 EH/s by Q4 2025 with new ASIC miners.
- Post-Bitcoin halving, mining revenue challenges persist, compounded by high energy costs in North America and Europe.
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