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Investing.com - Rosenblatt Securities has reiterated a Buy rating and $20.00 price target on Bitdeer Technologies Group (NASDAQ:BTDR), currently trading at $14.50, following the company’s second-quarter performance. With a market cap of $2.6 billion and a strong Buy consensus from analysts (target range: $17-$26), InvestingPro analysis suggests the stock is currently overvalued.
The cryptocurrency mining company reported better-than-expected revenue for the second quarter of 2025, driven by the sale of 5 EH/s of mining rigs that generated $69.5 million in revenue, a significant increase from the 0.3 EH/s sold in the first quarter. Despite the revenue growth, InvestingPro data shows the company faces challenges with weak gross profit margins of 9.67% and negative EBITDA of -$87.7 million in the last twelve months.
Bitdeer’s current power capacity stands at approximately 1.3 GW and is expected to increase to 1.6 GW by the fourth quarter of 2025, with management planning to continue using its mining rigs for self-mining as additional power capacity becomes available.
The company is also in advanced negotiations with a development partner for its 570 MW Clarington, Ohio site for high-performance computing and artificial intelligence applications, with further details expected to be announced in the next quarter.
Rosenblatt projects rig sale revenue to remain in the approximately 1 EH/s range for the next few quarters, with bitcoin mining expected to drive revenue through year-end.
In other recent news, Bitdeer Technologies Group reported a substantial increase in revenue for the second quarter of 2025, significantly surpassing market expectations. The company achieved revenue of $155.6 million, exceeding the anticipated $90.35 million by a notable margin, marking a 72.22% positive surprise. However, Bitdeer Technologies reported an earnings per share (EPS) of -$0.76, which was a significant deviation from the forecasted -$0.12, resulting in a 533.33% negative surprise. These figures highlight a mixed financial performance for the company in the recent quarter. Despite the earnings miss, the revenue growth underscores strong operational performance. There were no recent mergers or acquisitions reported for Bitdeer Technologies. Additionally, no analyst upgrades or downgrades have been noted in the recent period. These developments are part of the company’s ongoing financial activities in the current market environment.
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