đđAnalysts Raise Target for Bitcoin Company, Say There's an Attractive Opportunity! đđ
Benchmark raised its price target to $16, highlighting that Bitcoin miner Bitdeer has become an attractive takeover target as demand for artificial intelligence and high-performance computing increases.
Bitdeer Technologies (BTDR) is a major takeover candidate due to crypto miners' growing interest in energy assets, according to a research report published by broker Benchmark on Monday. Bitdeer's value has increased recently by attracting the attention of artificial intelligence and high-performance computing companies.
Benchmark raised Bitdeer's price target to $16 from $13 while reiterating its buy recommendation on the stock.
Over the past two months, Bitdeer shares have gained value amid increased capacity for crypto mining and artificial intelligence projects. This capacity is used to support both crypto mining and artificial intelligence and high-performance computing projects.
At a time when takeover activity in the mining industry is accelerating, Bitdeer updated its forecasts and increased its annual revenue forecast for 2025 from $497 million to $617.5 million, taking into account the contribution of Benchmark ASIC chip and mining equipment startups.
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