10 Stocks Stealing Today’s Spotlight; 5 on All-Time Highs

1. Bitdeer Technologies Group (NASDAQ:BTDR)

Bitdeer bounced back from losses to hit a new all-time high on Wednesday, as investors cheered its stellar Bitcoin mining performance last month, markedly improving its operations by 20.5 percent.

During the session, the stock jumped to its highest 52-week price of $27.8 before trimming gains to end the day just up by 28.73 percent at $25.90 apiece.

Late on Tuesday, Bitdeer Technologies Group (NASDAQ:BTDR) announced that it was able to mine 452 Bitcoins in September, a significant increase from the 375 Bitcoins mined in August this year.

This followed an improvement in its self-mining operations, achieving 35 EH/s in the said period versus 30 EH/s the month earlier.

According to the company, it was on track to reach 40 EH/s by the end of October, and thereafter will continue to deploy Sealminer mining rigs for self-mining while concurrently retiring all third-party, older-generation rigs to further enhance profitability and fleet efficiency.

Bitcoin mining aside, Bitdeer Technologies Group (NASDAQ:BTDR) also reiterated plans to expand its high-performance computing (HPC) and data center business, as it looks to ride the booming AI industry.

“Our expanded initiatives include negotiating directly with potential tenants, building relationships with EPCs specializing in data centers, developing proprietary AI data centers, and hiring in-house experts across multiple AI data center disciplines. In parallel, we are accelerating the development of additional sites for HPC/AI data centers at our Clarington, Tydal, and Wenatchee sites. This push is driven by a marked increase in inbound interest in our power assets, which has become a strong catalyst for expanding our efforts,” said Bitdeer Technologies Group (NASDAQ:BTDR) Chief Business Officer Matt Kong.

While we acknowledge the potential of BTDR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BTDR and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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