Benchmark sees Bitdeer as inexpensive, reiterates target

Benchmark analysts have identified Bitdeer (BTDR) as a comparatively inexpensive investment, maintaining a $27 price target for its shares. The company's AI cloud business demonstrated significant growth, reaching $43 million in annualized recurring revenue (ARR) by the end of March. This represents a substantial 105% increase on a month-over-month basis, indicating strong momentum in its AI-driven cloud services. Concurrently, Bitdeer's self-mining hashrate continues its upward trajectory, suggesting robust expansion in its core cryptocurrency mining operations.