Benchmark Projects Over 150% Upside for Bitdeer, Citing AI Data-Center Plans
Analyst sees strong potential as bitcoin mining revenue backs $4.7 billion AI data-center expansion.
Benchmark, a financial services firm, has issued a bullish outlook for Bitdeer, a bitcoin mining company, projecting more than 150% upside for its stock. The view is tied to the company's strategy of using bitcoin mining profits to fund a $4.7 billion artificial intelligence data-center buildout.
AI Expansion Backed by Mining Operations
According to Benchmark, Bitdeer's existing bitcoin mining business serves as the financial engine for its AI infrastructure ambitions. The firm believes this dual approach differentiates Bitdeer in both the crypto and high-performance computing sectors.
- Benchmark expects over 150% upside potential for Bitdeer shares.
- Bitdeer is allocating $4.7 billion toward AI data-center development.
- Bitcoin mining revenue is intended to fund the expansion.
The analysis underscores a growing trend of crypto miners pivoting to AI and cloud services, where energy infrastructure and data-center expertise are transferable. Bitdeer has not publicly commented on Benchmark's assessment.