Bitdeer price target raised to $24 from $15 at B. Riley

B. Riley raised the firm’s price target on Bitdeer (BTDR) to $24 from $15 and keeps a Buy rating on the shares. As of December 17, BTC has increased by around 53% since Election Da after reaching an all-time high above $107k, and during the same period, the global hash rate has risen by 11%, but peaked at around 890 EH/s for a brief period, the analyst tells investors in a research note. In its November update, Bitdeer noted that A2 production targets have nearly doubled from 18 EH/s to 35 EH/s, and the company has 7 EH/s committed to third parties but has not provided any explicit guidance beyond what could be used for self-mining versus third-party sales, the firm notes.