Bitdeer price target raised to $16 from $13 at Benchmark

Benchmark raised the firm’s price target on Bitdeer to $16 from $13 and keeps a Buy rating on the shares. The share price of has more than doubled over the past two months as the company has been identified as one of the bitcoin miners with ample existing and planned power capacity that could be leveraged either for mining bitcoins or for powering artificial intelligence and high-performance computing projects, notes the analyst, who also highlights that Bitdeer has made significant progress in the same time in the development of its SEAL bitcoin mining chips and SEALMINER bitcoin mining rigs.