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Bitdeer price target lowered to $27 from $38 at Benchmark

Benchmark lowered the firm’s price target on Bitdeer (BTDR) to $27 from $38 and keeps a Buy rating on the shares. The firm is adjusting estimates for Bitdeer to reflect the company’s increase in depreciation expense associated with its focus on bitcoin miner development and increased personnel expense after it ramped up hiring during Q4.

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