Bitcoin miner Bitdeer reports Q3 net loss of $266.7 million, stock price plunges 20%
ChainCatcher News, according to Decrypt, Bitcoin miner Bitdeer Technology Group (NASDAQ: BTDR) reported a net loss of $266.7 million in the third quarter, a 422% decrease compared to the same period last year, with overall performance falling short of institutional expectations.
It is reported that, influenced by the recent trend of cryptocurrency mining companies shifting towards artificial intelligence, the industry as a whole has experienced a wave of sell-offs. Bitdeer's stock price fell nearly 20% on Monday, erasing the gains from the previous month.
The report also states that since last year's halving event, the reward for validating blockchain transactions has decreased from 6.25 BTC to 3.125 BTC, leading to increased operating costs and mounting pressure on Bitcoin miners. Many miners have already transformed into cryptocurrency vaults. In August this year, Bitdeer focused on building mining machines and investing in U.S. mineral resources.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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