Bitdeer Technologies (BTDR) Is One Of The Bitcoin Miners That Have Switched To Data Center Business
Key takeaways
- Bitdeer Technologies Group (NASDAQ:BTDR) is one of the top data center stocks to invest in.
- A few days back, on June 24, Citizens initiated coverage of Bitdeer Technologies Group (NASDAQ:BTDR) with an Outperform rating and set a price target of $35.
- With the AI tailwind, BTDR is working efficiently by converting power capacity previously dedicated to bitcoin mining into infrastructure for hyperscale customers.
Bitdeer Technologies (BTDR) Is One Of The Bitcoin Miners That Have Switched To Data Center Business Jabran Kundi Thu, July 2, 2026 at 7:48 PM GMT+7 2 min read BTDR Bitdeer Technologies Group (NASDAQ:BTDR) is one of the 10 Bitcoin Miners That Are Now Data Center Companies. Bitdeer Technologies Group (NASDAQ:BTDR) is one of the top data center stocks to invest in. Based on the report released on June 29, Needham analyst John Todaro reiterated a Buy rating on the stock with a price target of $19. The firm's price target sits just below the median Wall Street analyst price target of $21, based on 12 analysts covering the stock.
A few days back, on June 24, Citizens initiated coverage of Bitdeer Technologies Group (NASDAQ:BTDR) with an Outperform rating and set a price target of $35. The firm's price target reflects an additional 120% upside from current levels. The firm believes the company is well-positioned to benefit from the growing demand for AI and high-performance computing infrastructure.
With the AI tailwind, BTDR is working efficiently by converting power capacity previously dedicated to bitcoin mining into infrastructure for hyperscale customers. This will help customers who require substantial computing power for AI workloads. Moreover, the firm expects the data center company to benefit from the same industry trends that have helped its competitors significantly outperform the S&P 500 over the past year. As a result, economics for providers of high-performance computing capacity have improved considerably, and strong demand for powered data center capacity continues to support growth opportunities, the firm noted.