Shares of bitcoin miner Bitdeer Technologies Group (ticker BTDR) have fallen more than 30 percent this week, from just over $23 on Monday morning to about $16 on Tuesday. The company's third-quarter earnings failed to meet investor expectations for a major artificial intelligence infrastructure update, sending shares to extend a month-long downward trend.
Nonetheless, Benchmark analyst Mark Palmer reiterated his buy rating and $38 price target, noting in a stock report on Tuesday that the sell-off "appears to reflect inflated investor expectations rather than any deterioration in the company's fundamentals". Palmer said Bitdeer's fundamentals in self-mining, custody and Cloud as a Service remained solid, with revenue up 174% year-over-year to nearly $170 million and adjusted EBITDA to $43 million from a year-ago loss.
Benchmark analysts reiterate their buy rating on Bitdeer and target price of $38
2025-11-11 21:36:17
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