Bitdeer (NASDAQ:BTDR) Rallies 5.51% to Month High on Strategic Initiatives, Earnings Resilience

Bitdeer (NASDAQ: BTDR) surged to its highest level so far this month, rallying 5.51% intraday on Nov. 18. The stock’s rebound comes amid renewed investor focus on the company’s strategic initiatives and earnings resilience despite recent challenges.

The share price rebound followed a sharp selloff triggered by a 14% decline on Nov. 11 after Bitdeer disclosed a significant delay in its SEAL04 chip development and announced legal investigations into securities law compliance. The delayed chip, a key growth driver for its hardware-as-a-service business, has raised concerns about the company’s R&D execution and competitive positioning in Bitcoin mining. Meanwhile, Q3 2025 results highlighted a widening net loss of $32.8 million amid rising operating costs, though revenue jumped 173.6% year-over-year to $169.7 million, driven by self-mining efficiency gains.

Analysts remain cautiously optimistic. B. Riley analyst Nick Giles maintained a “Buy” rating despite lowering the price target to $29 from $32, citing potential catalysts such as the A4 chip’s mass production in early 2026 and expanding high-performance computing contracts. Bitdeer’s liquidity position—$246.2 million in crypto assets and $196.3 million in cash—also underscores its capacity to navigate near-term headwinds. However, ongoing legal scrutiny and product delays could weigh on investor sentiment until clarity emerges on governance and operational progress.

Bitdeer’s dual focus on Bitcoin mining and AI cloud infrastructure positions it to benefit from sector tailwinds, but execution risks persist. The company’s ability to scale its 3.0 GW power portfolio and deliver on AI-related revenue streams will be critical in sustaining momentum. For now, the recent price rebound reflects a mix of optimism over liquidity strength and skepticism about the path to profitability in a volatile market environment.