Bitdeer Stock Plunges Following Q4 Earnings Miss

Shares of Bitdeer Technologies Group plunged over 28% on February 25 following the release of disappointing fourth-quarter earnings. The company reported significantly lower revenues and net losses compared to last year, underscoring the challenges faced by Bitcoin miners after the April 2024 halving event. Revenues reached $69 million in Q4 2024, a decrease of nearly 40% from the same period last year. This led to a net loss exceeding $530 million, significantly higher than the $5-million loss reported for Q4 2023. The stock price dropped sharply, falling from over $13.10 per share to approximately $9.30 per share on early trading of February 25th.