Bitdeer price target raised to $15 from $14 at Roth MKM

Roth MKM raised the firm’s price target on Bitdeer (BTDR) to $15 from $14 and keeps a Buy rating on the shares after its Q3 results. The company is advancing its vertical integration strategy, with promising demand for Gen2 SEALMINER machines and plans to triple its self-mining hash rate by year-end 2025, but while its bitcoin mining is benefiting from rising prices, Bitdeer’s long-term opportunities lie in constructing Ohio sites for high-performance-compute use cases with more stable economics, the analyst tells investors in a research note.