Catenaa, Tuesday, November 18, 2025- Shares of Bitdeer Technologies Group plunged more than 30% this week after the bitcoin miner’s third-quarter results failed to meet market expectations, though analysts said the company’s fundamentals remain strong.
Bitdeer’s stock dropped from just over $23 on Monday to around $16 by Tuesday, extending a month-long slide.
Investors had anticipated major announcements about Bitdeer’s artificial intelligence infrastructure, but the company reported only incremental updates.
Despite the sharp sell-off, Benchmark analyst Mark Palmer reaffirmed a Buy rating and a $38 price target.
Bitdeer’s revenue rose 174% year-over-year to nearly $170 million, while adjusted EBITDA swung to $43 million from a loss a year earlier.
Palmer highlighted progress on Bitdeer’s SEAL04 mining chip, citing early test results showing strong energy efficiency ahead of planned production in early 2026.
He also noted the company’s 3-gigawatt power footprint and plans to allocate 200 megawatts to AI computing by late 2026, which could yield up to $2 billion in annualized AI-cloud revenue if fully deployed.
