Blockchain Registration Transaction Record

Bitdeer: On The Precipice Of A Breakout

Wall Street firm Cantor Fitzgerald has recognized Bitcoin mining company Bitdeer as a leader in the industry, and as an emerging key player in the high-performance computing sector. Bitdeer shares ballooned by 33% to a market capitalization of over $1.2 billion in response to the positive note from Cantor Fitzgerald. With Bitdeer’s stock trading below its 52-week high, Cantor suggests the market isn’t fully appreciating Bitdeer’s potential in this bullish Bitcoin-price environment. Bitdeer appears to be on the precipice of a breakout, with an average price target of $14.08 per share and a runway for another 54% in capital appreciation.

There’s a reason that Bitdeer is getting noticed now. The company appears to be on the precipice of a breakout in which it is advancing closer toward its long-term development targets. In April, the Bitcoin-halving month, the company was responsible for mining 265 Bitcoins, a year-over-year increase of nearly 14%. In the midst of its growth, Bitdeer’s data centers have maintained stable operations, owing largely to attractive power pricing agreements it has secured for these sites, the company says. All seven Wall Street analysts covering Bitdeer have assigned buy ratings to the stock. With an average price target of $14.08 per share, the stock is seemingly undervalued with a runway for another 54% in capital appreciation. Investors who are seeking to gain diversified exposure to the Bitcoin mining sector and the next-generation of ASIC chip design could consider the advice of these Wall Street experts.