Bitdeer pivots from mining to AI data centers, targeting $2B ARR by 2026 with 200 MW of AI-ready IT load. A 3 GW global power pipeline and faster Clarington, Ohio, buildout frame the bet. [1]
Strategic pivot From Bitcoin miner to AI/HPC enabler, Bitdeer is redeploying its power toward AI workloads. In September the company mined 452 BTC, and it's fast-tracking the flagship 570 MW Clarington, Ohio site while converting Norway's 175 MW Tydal Phase 2 for AI at lower cost. The plan hinges on an expanding 3 GW power pipeline and the rollout of SEALMINER A3 rigs delivering 12.5 J/TH. [1]
Valuation catalysts On the valuation front, Needham raised its price target to $30 from $17, buoyed by HPC expansion as a key catalyst; analysts flag potential to hit multi-billions and even $44/share by 2028 if capacity ramps. [3] The company is also growing to 35 EH/s with new sites in Norway and Bhutan, underpinning the AI/data-center push. [4]
Momentum and milestones Market momentum is feverish: Bitdeer stock jumped nearly 30% on record mining output and AI ambitions. [2] The firm also overtook Riot Platforms to rank among the top mining operators as it expands with 5 EH/s and new sites. [4]
Keep an eye on that 2B ARR target and the 200 MW AI loadโtranslation of the 3 GW pipeline into real capacity will be the next big test.
References
Bitdeer targets $2B ARR with AI data centers by 2026
Bitdeer shifts from Bitcoin mining to AI data centers, aims 2B revenue by 2026 with 200MW AI load
View sourceBitdeer Stock Soars as Mining Output and AI Ambitions Drive Record Rally
Bitdeer stock hits record high, driven by record mining output and AI data-center expansion with a 3 GW pipeline
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Needham raises PT to $30 from $17, Buy; HPC expansion and direct tenant strategy may lift Bitdeer valuation by 2028.
View sourceโ๏ธ Mining: Bitdeer overtakes Riot and climbs to fifth place worldwide Bitdeer is solidifying its po
Bitdeer surpasses Riot to become fifth-largest miner; adds 5 EH/s via Sealminer, 35 EH/s, BTC up 20.5%, Norway Bhutan sites.
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