Bitdeer Soars 9.32% as HPC/AI Advances, Price Target Hike Spark Rally

Bitdeer Technologies Group (BTDR) surged 9.32% intraday on October 6, 2025, reaching a peak not seen since October 2025, with a two-day rally of 18.63% as the stock extended its recent upward momentum.

The rally was fueled by strategic advancements in high-performance computing (HPC) and artificial intelligence (AI), with Roth Capital upgrading its price target to $40 from $18 while retaining a “Buy” rating. Analysts highlighted Bitdeer’s partnerships and infrastructure expansions in HPC/AI as pivotal to unlocking new revenue streams and solidifying its position in the tech-driven economy.

Operational improvements also drove optimism, including a 33% rise in self-mined Bitcoin production in August 2025. The deployment of energy-efficient SEALMINER A3 mining rigs, featuring air- and hydro-cooling technologies, reduced power costs and enhanced profitability, aligning with global sustainability trends in blockchain operations.

Financial restructuring efforts further bolstered confidence, with Bitdeer progressing toward redeeming its 8.50% convertible senior notes due in 2029. This move aims to stabilize its capital structure and reduce leverage, addressing historical financial challenges such as a negative retained earnings balance of -$649 million.

Bitcoin’s proximity to all-time highs amplified Bitdeer’s appeal as a leveraged play on the crypto bull market. The stock’s performance remained closely tied to Bitcoin’s price trajectory, with analysts noting its potential to benefit from sustained demand for mining services amid broader market optimism.

Despite a price-to-sales ratio of 9.91, bullish projections for HPC/AI growth and proprietary ASIC technology positioned Bitdeer to capitalize on the $4–$5 billion annual ASIC market. However, risks such as high leverage and R&D expenses necessitate ongoing operational efficiency and strategic execution to sustain investor confidence.