According to Odaily, Bitdeer has released its unaudited financial results for the second quarter of 2024. The company reported a revenue of $99.2 million, a gross profit of $24.4 million, and an adjusted EBITDA of $24.9 million, reflecting year-over-year increases of 5.8%, 50.6%, and 33.2%, respectively. As of June 30, 2024, Bitdeer held $203.9 million in cash and cash equivalents, $24.9 million in cryptocurrencies, and $37.8 million in debt.
Bitdeer has commenced mass production of its first batch of SEALMINER A1 chips and plans to deploy 3.4 EH/s of its own computing power by the end of the year. The initial wafers for the second-generation SEAL02 chips are expected to be delivered from TSMC by the end of September, with mass production anticipated by year-end following successful testing. Additionally, the company has begun research and development on the third-generation SEAL03 chips.