Alliance Global Partners lowered the firm’s price target on Bitdeer (BTDR) to $22 from $31 and keeps a Buy rating on the shares. The key takeaway from the company’s March update was that demand for its new application-specific integrated circuit miners has weakened, which is a function of bitcoin prices and tariffs, the analyst tells investors in a research note. As such, the firm believes the ASIC miner piece of the story is on hold.
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