Riley Reduces Its Price Target on Bitdeer Technologies (BTDR) to $29, Maintains “Buy” Rating

Bitdeer Technologies Group (NASDAQ:BTDR) is one of the overlooked tech stocks to invest in.

Riley Reduces Its Price Target on Bitdeer Technologies (BTDR) to $29, Maintains “Buy” Rating

On November 12, 2025, B. Riley’s Nick Giles reduced his price target on Bitdeer Technologies Group (NASDAQ:BTDR) from $32 to $29. However, the analyst reiterated a “Buy” rating, attributing the positive stance to potential catalysts, such as the mass production of the first-generation A4 chip in Q1 2026 and upcoming HPC/AI contract developments.

Meanwhile, two days prior, Bitdeer Technologies Group (NASDAQ:BTDR) reported its third-quarter 2025 results. The quarter marked strong operational execution, with revenue surging 173.6% year-over-year to $169.7 million, gross profit growing to $40.8 million, and adjusted EBITDA hitting $43.0 million. The robust performance was driven by higher self-mining hashrate and efficiency gains. The company closed the quarter with $246.2 million in registered crypto assets and $196.3 million in cash and equivalents.

The quarter’s performance was led by the growth in self-mining operations, which offset declines in cloud hashrate and general hosting. Furthermore, SEALMINER sales, alongside early HPC/AI deployments, opened new revenue streams for the company. Bitdeer Technologies Group (NASDAQ: BTDR) saw its net loss widen to $32.8 million due to increased borrowing costs and operating expenses. However, management is eyeing long-term growth opportunities in AI cloud infrastructure and the mass production of SEALMINER units.

Looking ahead, Bitdeer Technologies Group (NASDAQ:BTDR) remains in a strong position for long-term growth, boasting a 3.0 GW power portfolio and robust R&D pipeline, as it looks to capitalize on the growing demand for both Bitcoin mining and AI compute services.

Bitdeer Technologies Group (NASDAQ:BTDR) delivers Bitcoin mining solutions and AI cloud services, while managing equipment, data centers, and operations. It also offers high-performance computing infrastructure globally.

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: 10 Best Small-Cap Biotech Stocks to Buy According to Analysts and 11 Best AI Infrastructure Stocks to Buy Right Now.

Disclosure: None.