Bitdeer Technologies Group (BTDR) stock climbed 5.53% in after-hours trading on Monday, outperforming the broader market, following bullish analyst coverage from Keefe Bruyette & Woods.
Keefe Bruyette initiated coverage on Bitdeer with an "Outperform" rating and set a price target of $26.50 on the cryptocurrency mining data center service provider. The firm's analysts are optimistic about Bitdeer's prospects, citing positive factors that could drive the stock higher.
Bitdeer provides digital asset mining data centers and mining hosting services globally. With its advanced computing capabilities and energy-efficient operations, the company is well-positioned to benefit from the growing cryptocurrency mining industry.
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