“The Bitcoin Mining Firm Firm Faced Revenue Decklines But Is Betting on Propriotary Asic Chips to Drive Future Expansion.”, – WRITE: www.coindesk.com
The Singapore-Based Bitcoin (BTC) Mining Company Attributed the Expenses to Strategic Investments in Developing ITS PROPRIETARY ASIC MINING RIGS.
“While Our Focus on Asic Development Temporarily Limited Hashrate Expansion, We Made Significant Progress in Strengthaning Our Technology Roadmap, Said Matt Kong,” “OWNING OUR OWN ASics ALLOWS US TO RAPIDLY DEPLY HASHRATE, LOWER COST AND IMPROVE CAPITAL EFIENCY.”
Revenue Fell to $ 69 Million, Down 40% from The Year-Earlier Period, with Declines Across Self-Mining, Hosting and Cloud Hash Rate Services.
The Company Is Doubling Down on Growth, Aiming to Increase Its Self-Mining Capacity To 40 Exahash Per Second (Eh/S) by the End of 2025, Which Wound Opany. World.
It Also Plans to Scale ITS Power Infrastructure, with Over 1 Gigawatt (GW) Of Capacity Set to Go Online Next Year – More Than Doubling The Current 900 Megawatts (MW).
Bitdeer Said Sees Potential in the Asic Market, Noting Strong Demand for Alternative Supppliers. The FIRM IS ALSO POSITIONING ITSELF TO SUPPLY ENERGY FOR AI DATA CENTERS, AIMING TO CAPITALIZE ON RISING DEMAND for Computing Power.
The Shares Fell 28% on the Day Amid A Broader Deckline in Traditional and Crypto Markets. The Stock Is Now Trading for $ 9.49, More Than 64% Lower Than Is End-December All-Time High.
Disclaimer: Parts of this article Were Generated with the Assistance from Ai Tools and Review by Our Editorial Team to Ensure Accucy and Adhesion to Our Standards. For more information, See Coindesk’s Full Ai Policy.
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