Wall Street Remains Divided On Bitdeer Technologies (BTDR) Amidst Big Upside Potential

Group 1 - Bitdeer Technologies Group (NASDAQ:BTDR) has been downgraded from Buy to Hold by Keefe Bruyette, with a price target reduced from $26.50 to $14, indicating a 7.36% downside from current levels [1] - The downgrade reflects concerns over the company's valuation outlook, particularly due to its increasing focus on AI cloud services, which introduces uncertainty regarding long-term value creation [1] - The company's AI segment is currently small, contributing to the uncertainty, along with limited visibility into expansion plans in the U.S. and Europe [1] Group 2 - Despite the downgrade, Bitdeer Technologies is positioned to potentially become the leading publicly traded bitcoin miner by the end of 2026, although mining is characterized by lower EBITDA multiples, impacting the overall investment case [2] - Needham analyst John Todaro maintains a Buy rating on Bitdeer, with a price target of $30, suggesting a 130% upside from current levels, which aligns with the median Wall Street analyst estimate of 134.56% [3] - Bitdeer operates in the blockchain and high-performance computing sectors, providing hash rate sharing and mining-rig hosting solutions, with operations in the U.S., Norway, Singapore, and Bhutan [4]