Bitdeer price target raised to $30 from $17 at Needham

Needham raised the firm’s price target on Bitdeer (BTDR) to $30 from $17 and keeps a Buy rating on the shares. The firm is positive on the company’s revamped push into high-performance-computing and that Bitdeer will aim to sign a tenant directly vs. share economics with a development partner, according to its production update announcement, the analyst tells investors in a research note. Needham adds that it expects Bitdeer to expand its neo-cloud services with the opportunity to do so in Singapore and Washington.