Bitdeer Technologies: A Leading Contender in Bitcoin Mining and AI Integration

Bitdeer Technologies: A Rising Star in the Bitcoin Mining Sector

In a recent research report published on Monday, broker Benchmark highlighted that Bitdeer Technologies (BTC), a prominent Bitcoin miner, has emerged as an attractive target for potential acquisitions. This surge in interest can be attributed to the increasing demand for energy assets from crypto miners, particularly from companies operating in the fields of artificial intelligence (AI) and high-performance computing (HPC).

Benchmark has raised its price target for Bitdeer from $13 to $16, affirming a strong buy rating on the shares. At the time of the report, Bitdeer’s stock was trading at approximately $11.10 in the premarket session. Over the past two months, Bitdeer shares have more than doubled in value, reflecting the market’s growing recognition of the company as one of the few bitcoin miners possessing “ample existing and planned power capacity” that can be leveraged for either cryptocurrency mining or for supporting AI and HPC projects.

The wave of takeover activity within the sector is indicative of the competitive landscape. For instance, Bitcoin miner Core Scientific (CORZ) recently declined a $5.75 per share acquisition offer from cloud computing firm CoreWeave, citing that the proposal significantly undervalued their operations.

Bitdeer is currently in preliminary discussions with several clients within the AI and HPC sectors, with expectations that these conversations will evolve into more substantive negotiations once management completes site analyses to determine optimal utilization strategies. This insight was shared following a conversation with a company executive.

In light of anticipated contributions from its ASIC chip and mining rig initiatives, Benchmark has also revised its revenue estimates for Bitdeer. The broker has increased its full-year 2025 revenue projection to $617.5 million, up from a previous estimate of $497 million.

The valuation multiples for Bitcoin mining equities have seen a notable uptick in recent months, largely driven by Core Scientific’s deal with AI hyperscaler CoreWeave, which has played a significant role in re-evaluating the sector. Moreover, Wall Street giant JPMorgan (JPM) remarked that the recent rally in the mining sector suggests a growing belief that AI and HPC applications present alternative, more lucrative opportunities for Bitcoin mining sites. This sentiment was echoed in a report released by the bank last week.