Bitdeer, among the world’s leading cloud service providers, showcased a stellar revenue figure of $99.2 million for the second quarter of 2024. This marked an increase from the $93.8 million recorded in the same period of 2023, indicating a steady growth trajectory for the company. Cost-wise, the revenue costs for the quarter stood at $74.8 million, a decrease from the $77.7 million of the previous year, which contributed to a higher overall profitability. The gross profit for the quarter was $24.4 million, a significant rise from the $16.2 million of the corresponding period last year. Although the net loss amounted to $17.7 million, this was a notable improvement from the $40.4 million loss in the second quarter of 2023. Notably, the Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the quarter was $24.9 million, showing a substantial increase from the $18.7 million of the same quarter last year. As of June 30, 2024, Bitdeer had a total cash and cash equivalents balance of $203.9 million, laying a solid financial foundation for future development.