Shares of Bitdeer Technologies Group (NASDAQ: BTDR) surged 5.08% in pre-market trading on Monday following the release of the company's second-quarter financial results. The Bitcoin mining technology company reported a significant revenue beat, overshadowing a wider-than-expected net loss.

Bitdeer posted Q2 revenue of $155.6 million, marking a 56.8% year-over-year increase and substantially surpassing analyst expectations of $106.5 million. The company attributed this strong performance to robust growth in its self-mining business and external sales of SEALMINER A2s. However, Bitdeer also reported a net loss of $147.7 million, or $0.76 per diluted share, compared to a loss of $0.14 per share in the same period last year and worse than the $0.12 loss analysts had predicted.

Despite the wider loss, investors appear to be focusing on Bitdeer's impressive revenue growth and positive operational metrics. The company reported that it is on track to achieve 40 EH/s of self-mining capacity by the end of October, with the potential to exceed this target by year-end. Additionally, Bitdeer highlighted progress in its high-performance computing (HPC) and AI initiatives, noting advanced negotiations with a development partner for its Clarington, Ohio site. These forward-looking statements, coupled with the strong revenue performance, seem to be driving the pre-market rally as investors bet on Bitdeer's growth potential in the evolving cryptocurrency mining and AI sectors.