Needham lowered the firm’s price target on Bitdeer (BTDR) to $22 from $30 and keeps a Buy rating on the shares. The company posted a Q4 revenue beat but missed on adusted EBITDA, driven by higher electricity costs, elevated G&A from AI/HPC hiring, and lower average bitcoin prices, the analyst tells investors in a research note. On high-performance-compute, the firm expects a lease signed in the near-term at Tydal with lower capex than traditional build-outs, Needham adds.
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