Bitcoin miner Bitdeer posted a net loss of $50.10 million for the third quarter of 2024, with total revenue falling to $62 million from $87.30 million in the same period last year. The decrease was primarily due to the April 2024 bitcoin halving, an increase in global hash rate, lower escrow revenue, and higher R & D expenses related to the development of the SEAL02 chip. The company's gross profit fell sharply from $21.10 million in the third quarter of 2023 to $2.80 million, while adjusted EBITDA changed from $28 million in the same period last year to $8.50 million. Despite the loss, cash and cash equivalents rose to $291.30 million as of September 30 from $203.90 million in the previous quarter.