Bitdeer reports Q3 EPS (35c), consensus (19c)

Reports Q3 revenue $62.0M, consensus $79.60M. “This quarter marked a foundational period for Bitdeer (BTDR), focused on the advancements of our key technological and strategic initiatives,” stated Matt Kong, Chief Business Officer. “In our ASICs business, we made substantial progress in the commercialization of our SEALMINER mining rigs that will help diversify our revenue streams and accelerate the growth of our self-mining operations. For SEALMINER A1, the first sample batch was successfully energized and production of 3.7 EH/s is expected to be completed and installed into our datacenters in Texas and Norway in phases from December through Q1 2025 for the time being…Further, in October, we commenced mass production of our SEALMINER A2 series and the first production run is expected to deliver 18 EH/s, which will be used for self-mining and selling to external customers. Notably, SEALMINER A2 will be a significant milestone as we enter this multi-billion dollar market. We are already engaged in discussion with a number of potential customers, and early demand is promising, indicating strong interest in our cutting-edge technology and the industry’s desire for supply chain diversification.”