Wall Avenue dealer Benchmark raises Bitcoin value goal BTC$110,972.63 Miner Bitdeer Applied sciences (BTDR) has risen from $24 to $38, representing an upside of greater than 50% from present ranges.
The dealer mentioned the inventory nonetheless has room to rise, though the inventory has risen 70% up to now two months, together with a greater than 30% rise up to now few days after the corporate introduced its transformation to AI.
Shares rose 6.8% to $25.65 in early buying and selling.
The miner's resolution to convey the event of its AI knowledge middle in-house, alongside the next-generation SEALMINER rig and BTC self-mining, strengthens its three-part technique, the report mentioned.
Benchmark analyst Mark Palmer mentioned that as Bitdeer expands into AI and high-performance computing, controlling the whole worth chain, from energy and land to design and operations, ought to enhance margins and speed up monetization.
The corporate outlined its plans in a September replace, hinting at ambitions to show the almost 3GW world energy pipeline, which spans the US, Norway, Bhutan, Canada and Ethiopia, into greater than $2 billion in annual income by the top of 2026. Though the inventory value soared greater than 30% on the information, Palmer mentioned the inventory nonetheless trades at a reduction in comparison with its friends.
Bitdeer is growing its Clarington, Ohio website for Bitcoin mining with built-in flexibility to transform into AI workloads, and the native energy firm has confirmed that 570 MW of energy will likely be accessible almost a 12 months forward of schedule. The corporate additionally plans to transform its 175MW Tydal Section 2 website in Norway into an AI knowledge middle by the top of 2026 at a decrease price than new building, the report mentioned.
Palmer reiterated his Purchase score and mentioned BitDeer's FY2026 EV/Income a number of of 4.3x stays effectively beneath the trade common of 8.6x, leaving room for additional upside.
learn extra: Crypto miner Bitdeer jumps 30% because it goes deeper into AI and knowledge middle growth
