We recently published a list of Why These 10 Firms Recorded Double-Digit Gains Last Week. In this article, we are going to take a look at where Bitdeer Technologies Group (NASDAQ:BTDR) stands against other firms that recorded double-digit gains last week.
Ten companies finished the past trading week on a high note, outperforming the three major indices with double-digit gains amid a flurry of catalysts, including upcoming earnings releases, that sparked buying appetite.
Week-on-week, the Nasdaq rallied by 6.7 percent, the S&P 500 clocked in a 4.59-percent gain, while the Dow Jones was up by 2.48 percent.
In this article, we have listed last week’s top 10 performing stocks and detailed the reasons behind their gains. The stocks were chosen based on the highest percentage increase in closing prices on April 25 as against their prices on April 17, or the week prior.
To come up with the list, we considered only the companies with a $2-billion market capitalization and a $5-million trading volume.
A construction team in a mining datacenter building work site with plans and equipment in hand.
Bitdeer Technologies Group (NASDAQ:BTDR)
Bitdeer Technologies surged by 38.19 percent week-on-week to end at $10.53 apiece on Friday versus the $7.62 close on April 17 following news that it was offered as much as $200 million in credit facility to finance its expansion plans.
Earlier this week, Bitdeer Technologies Group (NASDAQ:BTDR) said that it entered into a loan agreement with Matrixport, a company also owned by its chairman, Jihan Wu, for a $200-million credit facility to finance its Bitcoin ASIC manufacturing efforts. The loan carries a variable interest rate of 9 percent and is repayable in fixed monthly installments over a period of 24 months.
As of April 2021, Bitdeer Technologies Group (NASDAQ:BTDR) said it was already able to draw as much as $43 million from the credit line.
In other news, BTDR recently acquired a 101-megawatt data center in Alberta, Canada, for $21.7 million.
Last month, BTDR said it was able to mine 114 Bitcoins at a hash rate of 24.2 EH/s. It also completed mass production of 3.8 EH/s for its SEALMINER A1 mining rig, launched the SEALMINER A2 Pro series Bitcoin mining rigs, and obtained regulatory approval for Phases 1 and 2 of its Tydal, Norway site.
“We expect to energize more than 600 MW of power capacity over the next few months, including our Bhutan site,” the company said.
Overall, BTDR ranks 2nd on our list of firms that recorded double-digit gains last week. While we acknowledge the potential of BTDR as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than BTDR but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
