Bitdeer Technologies Stock Soars as AI and Bitcoin Mining Expansion Drive Record Growth

Bitdeer Technologies (NASDAQ: BTDR) surged nearly 30% to an all-time high of $27, extending a two-day rally fueled by record mining output and ambitious AI data-center plans. The crypto mining firm’s rapid rise coincides with Bitcoin’s steady price near $110,000, which has strengthened investor confidence across the mining sector. The combined market capitalization of listed miners has now surpassed $90 billion, more than double August’s level.

Bitdeer mined 452 BTC in September, up 20.5% from August, as its self-mining hashrate reached 35 EH/s, with a goal of 40 EH/s by late October. The company’s new SEALMINER A2 and A3 rigs have improved efficiency to under 10 joules per terahash. Bitdeer’s total power capacity now exceeds 3 gigawatts, driven by new operations in Norway, Bhutan, and Ohio. Its Clarington, Ohio site, expected to deliver 570 MW by Q3 2026, is running nearly a year ahead of schedule.

The company plans to allocate over 200 MW to AI computing by 2026, with potential annual revenue exceeding $2 billion. By expanding into AI hosting for cloud computing, autonomous systems, and large-scale model training, Bitdeer aims to offset the volatility of crypto mining while maintaining high GPU utilization. Its AI cloud segment already generates around $8 million in recurring revenue at 86% utilization.

Analysts remain bullish. Cantor Fitzgerald raised its target to $50, Roth Capital maintained a $40 Buy rating, and BTIG set a $25 target. Institutional investors have also increased holdings by up to 70% in recent quarters. While rising network difficulty has pressured hashprice, Bitdeer’s combination of efficient mining and AI diversification positions it as a leader in the digital infrastructure boom.

Across the industry, miners like Marathon Digital, Riot Platforms, and CleanSpark also saw notable gains, underscoring renewed confidence in the crypto and AI convergence driving the sector’s next growth phase.