Bitdeer Revenue Jumps 89% to $320.7M as AI Backlog Grows Despite Quarterly Loss
Summary
Bitdeer reported record third-quarter revenue of $320.7 million, up 89% year over year, and adjusted EBITDA of about $69.6 million, but posted a GAAP net loss of $125.5 million. Its AI-cloud backlog approached $2.9 billion, indicating potential demand rather than cash received or revenue already recognized. The company also mined 3,855 Bitcoin and reported $213.7 million in cash, cash equivalents and restricted cash. Whether its AI infrastructure expansion can convert the backlog into profitable services while managing substantial capital needs remains uncertain.
