Bitdeer Technologies Group (BTDR) jumped 14.1% on Thursday to $14.33, recovering losses from earlier in the week following the announcement of a new $36 million manufacturing facility in Sparks, Nevada.
Bitdeer Technologies Group, BTDR
The facility will be used to assemble Bitdeer’s SEALMINER line of Bitcoin mining machines. Commercial production is expected to begin before the end of 2026.
CEO Catherine Guo confirmed the company worked with Nevada Governor Joe Lombardo’s administration to secure tax incentives, including reductions on qualifying sales taxes.
The move is aimed at expanding US production capacity and reducing Bitdeer’s reliance on third-party hardware suppliers — a key operational vulnerability for mining companies.
Despite Thursday’s rally, BTDR is still roughly 27% below its June high. Year-to-date, the stock is up 26%.
Trading volume during Thursday’s session came in at around 1.7 million — well below the average daily volume of 8.57 million, suggesting the move was not broadly driven by institutional activity.
Wall Street remains cautiously optimistic. Ten analysts rate BTDR a Buy, four rate it a Hold, giving it a “Moderate Buy” consensus. The average price target sits at $25.45, well above current trading levels.
B. Riley Financial raised its target from $22 to $23 in May, while Needham lifted its target from $18 to $19, both maintaining Buy ratings. Zacks upgraded the stock from “strong sell” to “hold” in June.
The company has a market cap of $3.25 billion, a beta of 2.47, and a debt-to-equity ratio of 1.88. Its 200-day moving average is $12.46.
Last quarter’s earnings were a mixed bag. Revenue of $188.93 million beat analyst expectations of $184.02 million, and was up 169.5% year-over-year. But EPS came in at -$0.68, missing the consensus estimate of -$0.47.
Net margin remains deeply negative at -68.11%, and analysts project full-year EPS of -$1.18.
On the mining side, Bitdeer reported it mined 921 BTC in May, a 370% jump from the same month a year earlier.
The Nevada facility will remain dedicated to Bitcoin mining hardware, keeping it separate from Bitdeer’s growing AI cloud and high-performance computing operations.
Elsewhere in the sector, MARA Holdings announced plans to acquire a Texas site with up to 2 gigawatts of capacity for AI and digital infrastructure. TeraWulf also signed a 20-year data center lease with AI startup Anthropic, a deal projected to generate roughly $19 billion in contract revenue.
Institutional investors currently hold 22.25% of BTDR stock. Several small new positions were opened in recent quarters, though none were particularly large.
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