Benchmark reiterates its “buy” rating on BTDR and raises its price target to $29

Odaily Planet Daily Report: The stock price of Bit mining and data company Bitdeer Technologies has nearly doubled in the past four months, with a nearly 170% increase in the past month alone. Benchmark senior stock analyst Mark Palmer said the driving force behind the rise in Bitdeer's (stock code: BTDR) stock price comes from three different factors: its development and operation of data centers that power AI and high-performance computing (HPC) projects, its increased computing power supporting its self-mining of Bit, and its design and manufacture of next-generation ASIC chips and Bit mining equipment. The analyst pointed out that Bitdeer will also strengthen its self-mining of Bit by integrating some of the miners it produces into its own mining team, "making it the most vertically integrated listed Bit mining company." Benchmark reiterated its "buy" rating on BTDR and raised its target price from $16 to $29. (The Block)