BitDeer: Q1 total revenue was US$119.5 million, a year-on-year increase of 64.6%

BitDeer has released unaudited financial results and operational updates for the first quarter of 2024:Total revenue was $119.5 million, compared to $72.6 million in the first quarter of 2023Net profit was $600,000, compared to a net loss of $9.5 million in the first quarter of 2023.Adjusted profit was $8.4 million, compared to $2.8 million in the first quarter of 2023. Adjusted EBITDA was $26 million, compared to $18.5 million in the first quarter of 2023. Cash and cash equivalents were $118.5 million