Potential Takeover Target: Bitdeer Technologies, a Bitcoin Mining Company
Bitdeer Technologies (BTDR), a Bitcoin miner, has attracted attention as a potential takeover target, according to a recent report by broker Benchmark. The increasing interest from artificial intelligence (AI) and high-performance computing (HPC) companies in crypto miners’ energy assets has contributed to Bitdeer’s rising value.
Benchmark has raised its price target for Bitdeer from $13 to $16 and has reaffirmed its buy rating on the stock. Currently trading at $11.10 in premarket activity, Bitdeer’s shares have surged over the past two months, positioning the company as one of the leading bitcoin miners with significant existing and planned power capacity that can support both crypto mining and power AI and HPC projects.
In a dynamic sector where takeover activities are intensifying, Core Scientific, another Bitcoin miner, recently turned down a $5.75 per share acquisition offer from cloud computing firm CoreWeave, citing undervaluation. Bitdeer is also engaged in preliminary discussions with multiple clients in the AI/HPC sector, with further talks anticipated following site evaluations to determine optimal utilization, as per a company executive.
Benchmark has adjusted its Bitdeer projections to account for the anticipated benefits from its ASIC chip and mining rig initiatives, revising the full-year 2025 revenue estimate to $617.5 million from $497 million. The report highlights a notable increase in Bitcoin mining equity valuations in recent months, partly driven by Core Scientific’s collaboration with AI hyperscaler CoreWeave, which has influenced the sector’s reevaluation positively.
JPMorgan, a prominent financial institution, noted that the recent upswing in the sector reflects the market’s belief in alternative and more lucrative applications for bitcoin mining sites within the AI and HPC realm, according to a recent report. The convergence of crypto mining and advanced computing technologies is reshaping the landscape of digital asset operations, presenting new opportunities for growth and diversification.
The evolving dynamics of the crypto mining industry underscore the sector’s adaptability and potential for strategic partnerships and acquisitions, positioning companies like Bitdeer at the forefront of innovation and expansion in the digital economy.
For more insights on the evolving landscape of Bitcoin mining and its global impact, refer to the detailed analysis provided by JPMorgan on the record-breaking performance of U.S.-listed Bitcoin miners in July.
