Roth MKM analyst Darren Aftahi maintained a Buy rating on Bitdeer Technologies (BTDR – Research Report) today and set a price target of $29.00.
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Darren Aftahi’s rating is based on Bitdeer Technologies’ significant progress in expanding its high-performance computing and artificial intelligence capabilities, as well as the accelerating traction of its SEALMINER platform. These developments have led to a revision of revenue expectations for the latter half of 2025, alongside an increased Bitcoin price assumption which raised the price target to $29. Furthermore, Bitdeer’s solid initial demand for its A2 mining machines, with their entire allocation swiftly reserved, indicates strong market interest and potential for growth. The company’s strategic focus on innovative ASIC and semiconductor technology suggests it could disrupt the existing market with enhanced design and power efficiency. This promising outlook is further supported by the expected growth in the Bitcoin ASIC hardware market, projected to reach $26.7 billion by 2031. Collectively, these factors contribute to an attractive long-term investment opportunity, justifying Aftahi’s Buy rating.
In another report released on December 10, BTIG also maintained a Buy rating on the stock with a $23.00 price target.
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Bitdeer Technologies (BTDR) Company Description:
Bitdeer Technologies is a technology company focused on providing cryptocurrency mining solutions. It operates data centers across multiple locations, offering cloud mining and hosting services to support both institutional and individual clients. The company emphasizes energy-efficient mining practices and sustainable infrastructure to reduce environmental impact.
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