Bitdeer Mining Soars to 400 Bitcoin and $10M Profit on Nvidia Partnership
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Bitdeer Technologies is a Bitcoin mining company based in Singapore that mined over 400 Bitcoins in December 2022.
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In Q3 2023, Bitdeer generated $87.3 million in revenue, up from $76.6 million in Q3 2022, and swung from a net loss to a net profit of $10.5 million.
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Bitdeer has a partnership with Nvidia and plans to offer Nvidia-powered cloud computing services in Singapore in the current quarter.
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BTDR stock has a Moderate Buy analyst consensus rating based on 1 Buy rating and a price target of $20, implying 122.5% upside potential.
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Bitdeer has pivoted to profitability and its Bitcoin mining and Nvidia partnerships make it an appealing crypto investment.