Monday, Bitdeer Technologies Group (NASDAQ:BTDR) shares, currently trading at $18.50 with a market capitalization of $2.73 billion, saw its stock rating reiterated as a Buy with a stable price target of $22.00 by analysts at Rosenblatt. The endorsement follows Bitdeer's release of their December 2024 Production and Operations update. The company has demonstrated remarkable momentum, with InvestingPro data showing a 200.81% return over the past year.
The report from Bitdeer outlined significant progress in their operations, including the self-mining of 145 Bitcoins. Additionally, the total managed hash rate for the company reached 21.6 EH/s. Rosenblatt's coverage noted that Bitdeer is on schedule to produce 35 EH/s of their SEALMINER A2 rigs by the third quarter of 2025.
