Why did Global Blockchain's operating expenses surge in Q3 2024?

Global Blockchain's operating expenses surged in Q3 2024 due to several factors:

1. **Increased Mining Operations**: The company's self-mined Bitcoin increased by 166 Bitcoins. Mining operations are known to incur significant expenses, including energy costs, maintenance, and equipment upgrades. The increase in mining activities likely led to higher operational expenses.
2. **Hosting Services Expansion**: There was a decrease in client-hosted mining machines, which could indicate a shift in hosting services or an expansion of Bitdeer's own hosting capacity. Hosting services also require infrastructure and personnel costs, which could contribute to the rise in operating expenses.

In conclusion, the surge in operating expenses is likely a result of scaling up mining operations and hosting services, which are known to be costly.