Bitdeer Fell 20% on Wider-Than-Estimated Net Loss, ASIC Chip Delay

Bitdeer Technologies Group (BTDR), a bitcoin BTC$105,316.04 miner and equipment manufacturer that announced a strategic pivot into artificial intelligence and data center infrastructure in October, slumped 20% on Monday after saying its next-generation ASIC chip was delayed and reporting a wider-than-estimated third-quarter loss.

The net loss widened to $266.7 million, or $1.28 per share, from $50.1 million in the year-earlier quarter. Analysts had forecast a loss of as much as 25 cents a share. Revenue more than doubled to $169.7 million, beating estimates, while adjusted Ebitda flipped to a profit from a year-earlier loss.

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