Bitdeer Shares Plummet 20% After Q3 Loss of $266M

Shares of Bitdeer Technologies, a Singapore-based Bitcoin mining company, saw a sharp decline on Monday following the release of its third-quarter earnings report. The company reported a net loss of $266.7 million for the period, significantly higher than the previous year’s $50.1 million deficit. This was largely attributed to non-cash losses arising from the revaluation of convertible debt.