B. Riley Adjusts Bitdeer (BTDR) PT to $17 as Company Expands Hash Rate, Global Power Capacity

Bitdeer Technologies Group (NASDAQ:BTDR) is one of the tech stocks to buy according to analysts. On July 10, B. Riley lowered its price target on Bitdeer from $18 to $17, while maintaining a Buy rating on the shares. The adjustment showed updated estimates in the high-performance computing space, following a review of Bitdeer’s Q2 actuals.

In Q1 2025, Bitdeer Technologies reported increasing its self-mining hash rate to 11.5 exahash per second (EH/s), with ambitious plans to reach 40 EH/s by the end of October this year. An exahash per second represents one quintillion hashes per second, indicating the computational power of a blockchain network.

Bitdeer is also expanding its global power capacity, anticipating ~500 megawatts of new self-mining power capacity by mid-2025, which would bring its total capacity to nearly 1.6 gigawatts. The expansion includes a focus on geographic diversification, with power capacity in Norway and Bhutan. The company is also developing its own AI technology and has secured a loan agreement with Matrix Finance and Technology Holding Company for ~$200 million to support its expansion.

Bitdeer Technologies Group (NASDAQ:BTDR) is a technology company for blockchain and high-performance computing/HPC in Singapore, the US, Bhutan, and Norway.

While we acknowledge the potential of BTDR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.