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Investing.com - Benchmark has reiterated its Buy rating on Bitdeer Technologies Group (NASDAQ:BTDR) stock, maintaining its price target of $240.00 following the company’s second-quarter 2025 earnings release. The stock, currently trading at $14.36 with a market capitalization of $2.63 billion, has shown remarkable momentum with a 108% gain over the past year.
The research firm noted that Bitdeer’s quarterly report, released Tuesday morning, demonstrated "meaningful progress" across all three of the company’s business segments.
Benchmark highlighted advancements in Bitdeer’s bitcoin mining rig design and manufacturing operations, its bitcoin self-mining activities, and the development of AI/HPC data centers.
The firm specifically pointed to a disconnect between Bitdeer’s "potential upside" and what it described as the company’s "lagging stock valuation."
Bitdeer Technologies Group operates primarily in the cryptocurrency mining sector while expanding into artificial intelligence and high-performance computing infrastructure development.
In other recent news, Bitdeer Technologies Group reported significant revenue growth for the second quarter of 2025, surpassing market expectations with $155.6 million in revenue, a 72.22% positive surprise against the anticipated $90.35 million. Despite this strong revenue performance, the company posted an earnings per share (EPS) of -$0.76, which was a substantial miss compared to the forecasted -$0.12. The impressive revenue figures were bolstered by the sale of 5 EH/s of mining rigs, generating $69.5 million, a notable increase from the 0.3 EH/s sold in the prior quarter. Analysts at BTIG have raised their fiscal year 2025 revenue estimate for Bitdeer to approximately $564 million, reflecting adjustments for various factors, including third-party rig sales and self-mining growth. Cantor Fitzgerald has raised its price target for Bitdeer to $25.00, citing higher peer multiples in the cryptocurrency mining sector. Meanwhile, BTIG, H.C. Wainwright, and Rosenblatt Securities have all reiterated their Buy ratings on the company, with price targets of $23.00, $19.00, and $20.00, respectively. These developments highlight a positive outlook for Bitdeer amid strong quarterly results and increased analyst confidence.
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