Bitdeer's fourth-quarter sales tripled last year.

Bitcoin cloud mining company Bitdeer reported revenue of $225 million in the fourth quarter of last year, a significant increase from $69 million in the same period the previous year, The Block reported. Net income for the same period was $70.5 million, turning a profit after a loss of $531.9 million in the same period the previous year. The fourth-quarter performance was driven by the expansion of its own Bitcoin mining operations. Bitdeer mined 1,673 BTC in the quarter alone, nearly four times the 469 it mined in the same period the previous year.