Bitdeer’s AI Gamble: A Financial Wizardry or Juggernaut? 🤖💰

by

My dear reader, gather ’round for a tale of financial jujitsu and silicon sorcery! The venerable institution of Benchmark, that paragon of financial sagacity, has seen fit to elevate its price target on Bitdeer Technologies to $38, a 50% leap from its previous estimate. One might say the stock is now dancing on the toes of optimism, though not quite as elegantly as a Basset Hound in a tuxedo. 🐾🎩

Why, you ask? Ah, the answer lies in Bitdeer’s audacious pivot to in-house AI data centers, a move as bold as a gentleman attempting to waltz in Wellington boots. The company, currently expanding its Clarington, Ohio, and Tydal, Norway sites, is juggling Bitcoin mining with AI/HPC ambitions like a circus performer on a unicycle. 🚲🔮

Markets, ever the fickle lovers, have taken notice. The stock, trading at a mere 4.3x FY26 EV/revenue (a bargain, if you ask me, though I suspect the peers are rolling in their proverbial money), has surged 70% in two months. A 30% spike followed the AI pivot announcement, leaving analysts like Mark Palmer (that shrewd fox of Benchmark) to declare it “undervalued” with a grin wider than a Cheshire cat’s. 🐱💸

Bitdeer’s strategy? A triumvirate of next-gen SEALMINER rigs, self-mining BTC, and full-chain AI domination. The report gushes about controlling power, land, and operations like a Victorian baron with a knack for spreadsheets. By 2026, they aim to monetize their 3 GW global pipeline into $2 billion annually. One must commend their audacity; it’s the sort of plan that would make Jules Verne blush. 📜✨

The Clarington site, now a Bitcoin haven with AI flexibility, boasts 570 MW of power arriving a year early. Norway’s Tydal Phase 2, meanwhile, is morphing into an AI data center by 2026 at a cost lower than a new build. The local utility, no doubt, is sipping tea and muttering, “How very enterprising.” ☕💡

Palmer, that arch-sage of analysis, insists the stock still trades at a discount to peers, a 4.3x multiple versus 8.6x. “Room for upside,” he says, as if suggesting a hat trick at cricket. The shares, currently at $25.65, have climbed 6.8% in early trading. One might be forgiven for thinking Wall Street’s found a money-printing machine in a bowler hat. 🎩🖨️

Read More

2025-10-20 18:11