12 Best Cryptocurrency Stocks to Buy According to Wall Street

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7. Bitdeer Technologies Group (NASDAQ:BTDR)

Average Upside Potential: 23.46%

Bitdeer Technologies Group (NASDAQ:BTDR) serves as the global leader in blockchain and high-performance computing. The firm has been servicing the cryptocurrency mining industry. It is headquartered in Singapore and has deployed datacenters in the United States, Norway, and Bhutan.

Bitdeer is a differentiated Bitcoin Mining and Data Center Technology Company. The diversified revenue streams facilitate growth while catering to volatility. The firm’s globally distributed data centers ensure a stable power supply. Bitdeer boasts 895 MW of existing power capacity across three continents. Additionally, the firm is positioned to capitalize on AI / HPC demand as it explores new capacity and evaluates existing infrastructure portfolio for AI / HPC applications. At the same time, Bitdeer is developing in-house, proprietary SEALMINER rigs which gives it a significant opportunity to capture a large market.

During the month of October, the firm recorded 174 self-mined Bitcoins. Simultaneously, the firm commenced mass production of its SEALMINER A1 and A2 machines. SEALMINER A1 production plan is expected to produce approximately 3.7 EH/s of units and delivery has already started with expected phased energization between December and the end of Q1 2025. SEALMINER A2 will be an achievement for the firm as it starts to offer these machines to customers starting in 2025. Thus, the firm is working towards a successful market entry into the multi-billion dollar ASIC market in 2025.

Hence, Bitdeer Technologies Group (NASDAQ:BTDR) is a leading tech company for the blockchain and accelerated compute communities and has a strong diversified business model and a global footprint. As of November 12, the stock has an average upside potential of 23.46%.

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