Crypto-Related Companies Face Financial Headwinds Amid Q3 Losses and Post-IPO Slips
Crypto-Related Companies Face Financial Headwinds Amid Q3 Losses and Post-IPO Slips
Recent corporate earnings reports paint a challenging picture for some prominent players in the cryptocurrency space. Bitcoin mining giant Bitdeer reported a significant Q3 loss of $266.7 million, leading to a substantial drop in its share price despite record Bitcoin production. Concurrently, crypto exchange Gemini saw its shares slip following its initial earnings report since going public, as heavy operational losses overshadowed strong revenue growth, triggering a post-market selloff.
From Hero to Zero: How Bitdeer Lost 32% Despite Mining 1,109 Bitcoin
Bitdeer shares dropped nearly 20% after reporting a $266.7 million Q3 loss, weeks after surging on AI expansion plans and record Bitcoin production, highlighting capital spending and non-cash debt impacts.
Gemini Shares Slip After First Earnings Report Since Nasdaq Debut
Gemini’s first earnings report since going public showed strong revenue growth but heavy losses, as rising expenses overshadowed gains and sparked a post-market selloff.