Riley Reduces Its Price Target on Bitdeer Technologies (BTDR) to $29, Maintains "Buy" Rating

Bitdeer Technologies Group (NASDAQ:BTDR) is one of the overlooked tech stocks to invest in.

On November 12, 2025, B. Riley’s Nick Giles reduced his price target on Bitdeer Technologies Group (NASDAQ:BTDR) from $32 to $29. However, the analyst reiterated a “Buy” rating, attributing the positive stance to potential catalysts, such as the mass production of the first-generation A4 chip in Q1 2026 and upcoming HPC/AI contract developments.

Meanwhile, two days prior, Bitdeer Technologies Group (NASDAQ:BTDR) reported its third-quarter 2025 results. The quarter marked strong operational execution, with revenue surging 173.6% year-over-year to $169.7 million, gross profit growing to $40.8 million, and adjusted EBITDA hitting $43.0 million. The robust performance was driven by higher self-mining hashrate and efficiency gains. The company closed the quarter with $246.2 million in registered crypto assets and $196.3 million in cash and equivalents.

The quarter’s performance was led by the growth in self-mining operations, which offset declines in cloud hashrate and general hosting. Furthermore, SEALMINER sales, alongside early HPC/AI deployments, opened new revenue streams for the company. Bitdeer Technologies Group (NASDAQ: BTDR) saw its net loss widen to $32.8 million due to increased borrowing costs and operating expenses. However, management is eyeing long-term growth opportunities in AI cloud infrastructure and the mass production of SEALMINER units.

Looking ahead, Bitdeer Technologies Group (NASDAQ:BTDR) remains in a strong position for long-term growth, boasting a 3.0 GW power portfolio and robust R&D pipeline, as it looks to capitalize on the growing demand for both Bitcoin mining and AI compute services.

Bitdeer Technologies Group (NASDAQ:BTDR) delivers Bitcoin mining solutions and AI cloud services, while managing equipment, data centers, and operations. It also offers high-performance computing infrastructure globally.

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Disclosure: None.