Bitdeer Technologies Group (NASDAQ:BTDR) is one of the 13 Crypto Stocks with the Highest Upside Potential. On June 16, analyst Kevin Cassidy from Rosenblatt Securities maintained a Buy rating on Bitdeer Technologies Group (NASDAQ:BTDR), raising the price target to $20.00 from $15.00. The rating upgrade was based on the company’s strong developmental and operational progress.
A construction team in a mining datacenter building work site with plans and equipment in hand.
The analyst reasoned that Bitdeer Technologies Group’s (NASDAQ:BTDR) self-mining operations are undergoing considerable growth, with an expanded hash rate and a significant increase in Bitcoin production. He attributed this growth to the deployment of the company’s advanced SEALMINER equipment and strategic expansion of its energy capacity. In addition, new facilities in Bhutan and Norway are expected to be energized soon, further boosting operational capabilities.
Cassidy also reasoned that Bitdeer Technologies Group (NASDAQ:BTDR) is making notable advancements in mining rig development, especially with the SEALMINER A3 and A4 models. This initiative reflects the potential of attaining high energy efficiency, which is critical for the company to maintain its competitive standing.
Bitdeer Technologies Group (NASDAQ:BTDR) is a technology company specializing in blockchain and computing, offering hash rate sharing solutions, including Cloud hash rate and one-stop mining machine hosting solutions for efficient cryptocurrency mining. It has taken the lead as the largest vertically integrated Bitcoin miner.
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