BTDR Stock Price: Benchmark Maintains $22 Bitdeer Price Target as Bitcoin Mining Revenue Jumps

TLDR

• Benchmark maintained its Buy rating and $22 price target on Bitdeer, implying about 100% upside from recent levels near $11.
• Bitdeer reported Q2 2026 revenue of $228.8 million, up 47% from $155.6 million a year earlier.
• Self-mining revenue reached $168.4 million, while average self-mining hash rate increased to 69.5 EH/s.
• Bitdeer’s AI Cloud revenue reached $14 million, compared with $3.7 million in Q1 2026.
• Bitdeer posted a $92.3 million net loss, even as adjusted EBITDA increased to $31.1 million.

Benchmark maintained its Buy rating on Bitdeer Technologies Group (NASDAQ: BTDR) and set a $22 price target after the Bitcoin miner reported higher second-quarter revenue. The target offers roughly 100% upside from BTDR’s recent trading level near $8.67, although Benchmark reduced its previous target of $27 following the company’s latest quarterly results.

Source: KnockOutStocks

Bitdeer reported $228.8 million in revenue for the second quarter of 2026, up 47% from $155.6 million during the same quarter last year. Revenue also increased from $188.9 million in the first quarter, supported mainly by the company’s expanding self-mining operations. Benchmark analyst Mark Palmer has also outlined a higher valuation scenario reaching $38 as Bitdeer expands its AI and high-performance computing business.

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