Bitdeer initiated with a Buy at Roth MKM

Roth MKM analyst Darren Aftahi initiated coverage of Bitdeer with a Buy rating and $14 price target. The analyst says Bitdeer represents an opportunity for investors to own a “multi-faceted” crypto platform company with plans to more than double its capacity to 2GW in the coming years. This will potentially giving the company a seat at the “adult” table of bitcoin miners, the analyst tells investors in a research note. The firm says that while Bitdeer will need capital to scale, its self-mining, hash rate sharing, hosting and artificial intelligence cloud services segments offer investors a diversified crypto investment growth story.