Bitdeer Q4 revenue triples to $225M

Bitcoin cloud mining firm Bitdeer reported fourth-quarter revenue of $225 million, a significant jump from $69 million in the same period a year earlier, according to The Block. During the same period, net income reached $70.5 million, marking a successful turnaround from a $531.9 million loss in the fourth quarter of the prior year. The company attributed its strong fourth-quarter performance to the expansion of its proprietary Bitcoin mining operations, having mined 1,673 BTC during the quarter. This figure represents a nearly fourfold increase from the 469 BTC mined in the same period the previous year.