Bitdeer initiated with a Buy at Rosenblatt

Rosenblatt initiated coverage of Bitdeer Technologies with a Buy rating and $10.50 price target. The analyst continues to be “highly bullish” on the bitcoin ecosystem, saying mining “will always be the backbone.” The firm prefers miners with cheap power, diversification of revenue and geography, operational efficiency, access to capital, and reputable management teams. Bitdeer meets these criteria and trades at a discount on a number of metrics compared to peers, the analyst tells investors in a research note.