Alliance Global Partners raised the firm’s price target on Bitdeer (BTDR) to $35 from $24 and keeps a Buy rating on the shares after its Q3 results. The company’s higher than expected revenue was mainly driven by growth in self-mining BTC, the analyst tells investors in a research note. General Hosting revenues declined to $8.4 M from $9.6M in Q3 however due to the roll off of certain contracts along with some hosting customers reducing operations of older and less efficient rigs, while the freed-up capacity was reallocated to Self-mining, the firm added.
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