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Investing.com - Cantor Fitzgerald has raised its price target on Bitdeer Technologies Group (NASDAQ:BTDR) to $25.00 from $23.00 while maintaining an Overweight rating on the stock. The company, currently trading at $14.36 with a market capitalization of $2.63 billion, has seen its stock surge over 108% in the past year. According to InvestingPro data, analyst targets range from $17 to $26.
The price target increase reflects higher peer multiples in the cryptocurrency mining sector, according to the research firm’s analysis released Tuesday.
Cantor Fitzgerald described Bitdeer as having "arguably the fastest growing Bitcoin mining business in the world" alongside an ASIC chip business that has begun generating revenue.
The firm highlighted Bitdeer’s pipeline of projects across both Bitcoin mining and AI/high-performance computing (HPC) as potential catalysts that could drive higher revenue and profitability.
Bitdeer’s dual focus on cryptocurrency mining and chip development positions it uniquely in the market, with Cantor Fitzgerald expressing continued confidence in the stock’s risk/reward profile.
In other recent news, Bitdeer Technologies Group reported a significant increase in revenue for the second quarter of 2025, reaching $155.6 million, which far exceeded the expected $90.35 million. This marked a 72.22% positive surprise in revenue, although the company posted an earnings per share (EPS) of -$0.76, compared to the forecasted -$0.12. The company’s revenue growth was bolstered by the sale of 5 EH/s of mining rigs, generating $69.5 million, a substantial increase from the 0.3 EH/s sold in the first quarter. BTIG has reiterated its Buy rating on Bitdeer, raising its fiscal year 2025 revenue estimate to approximately $564 million from $452 million. H.C. Wainwright also maintained a Buy rating, highlighting stronger-than-expected quarterly results driven by robust ASIC sales. Similarly, Rosenblatt Securities reiterated its Buy rating, acknowledging the company’s impressive second-quarter performance. These developments reflect a positive outlook from multiple analyst firms on Bitdeer’s financial trajectory.
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