Bitdeer Technologies Group (OQ:BTDR)

Business Focus: N/A

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Sector: Technology	Industry: N/A

See Regulatory Filings on SEC

Company Contact

Address:	08 Kallang Avenue, Aperia Tower 1, #09-0 339509
Tel:	N/A
Website:	https://www.bitdeer.com
IR:	See website

Key People

Jihan Wu Chairman of the Board, Chief Executive Officer, Founder	Jianchun Liu Chief Financial Officer, Director	Linghui Kong Chief Business Officer, Director
Haris Basit Chief Strategy Officer

Business Overview

Bitdeer Technologies Group is a technology company. The Company is engaged in providing cryptocurrency mining solutions. It primarily operates three business lines: proprietary mining, hash rate sharing, and hosting. Its Proprietary mining refers to cryptocurrency mining for its own account, which allows it to directly capture the high appreciation potential of cryptocurrency. It offers two types of hash rate sharing solutions, namely Cloud Hash Rate and Hash Rate Marketplace. Through Cloud Hash Rate, the Company sells its hash rate to customers. It offers hash rate subscription plans at fixed price and share mining income with them under certain arrangements. The Company's hosting services offer customers mining machine hosting solutions encompassing deployment, maintenance, and management services for cryptocurrency mining.

Financial Overview

For the fiscal year ended 31 December 2023, Bitdeer Technologies Group revenues increased 11% to $368.6M. Net loss decreased 6% to $56.7M. Revenues reflect Northern America segment increase of 69% to $239.1M. Lower net loss reflects Stock-based Compensation i decrease of 51% to $23.8M (expense), Stock-based Compensation in R&D decrease of 45% to $13.4M (expense).

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