Business
Bitdeer Pre-Announces Financial and Operating Results for the Fourth Quarter of 2023
SINGAPORE, March 04, 2024 (GLOBE NEWSWIRE) -- Bitdeer Technologies Group (NASDAQ: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for
About this update from Bitdeer Technologies Group
[{"type":"text","content":"SINGAPORE, March 04, 2024 (GLOBE NEWSWIRE) -- Bitdeer Technologies Group (NASDAQ: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for blockchain and high-performance computing, today announced selected estimated unaudited preliminary financial and operating results for the fourth quarter ended December 31, 2023. Unaudited and Preliminary Q4 2023 Financial Highlights Total revenue of approximately US$114.8 million, compared to US$77.1 million in Q4 2022. Self-mining revenue of approximately US$46.9 million, compared to US$10.6 million in Q4 2022.Cloud hash rate revenue of approximately US$16.3 million, compared to US$19.8 million in Q4 2022.General hosting revenue of approximately US$25.2 million, compared to US$19.5 million in Q4 2022.Membership hosting revenue of approximately US$23.4 million, compared to US$21.4 million in Q4 2022. Adjusted EBITDA (reconciled below)1 in the range of US$32.1 million to US$38.1 million, compared to US$16.3 million in Q4 2022.Cash and cash equivalents of approximately US$144.7 million as of December 31, 2023, compared to US$231.4 million as of December 31, 2022. Linghui Kong, Chief Business Officer of Bitdeer, commented, “In line with our commitment to providing investors with more timely access to Bitdeer’s performance in the fourth quarter of 2023, we are proactively sharing selected preliminary financial and operational results prior to our audited year end 2023 financial reports, which we currently expect to release towards the end of March 2024.” Preliminary Q4 2023 Operational Highlights Total shares outstanding of 111,966,634 ordinary shares as of December 31, 2023 (excluding 606,756 class A ordinary shares that have been repurchased but not cancelled and 5,436,049 class A ordinary shares reserved for future issuances upon the exercise of awards granted under our share incentive plans), including 63,566,712 class A ordinary shares and 48,399,922 class V ordinary shares.Total Bitcoin mined (self-mining only) of approximately 1,299.Total power usage of approximately 1,336,000 MWH across the Company’s six mining datacenters in the fourth quarter of 2023.Average cost of electricity of approximately US$44/MWH in the fourth quarter of 2023.Average miner efficiency of approximately 31.7 J/TH as of December 31, 2023. ___________________________________________1 Adjusted EBIT...