Barclays has launched coverage of Bitdeer Technologies Group with an Overweight rating and a $15 price target, making it the latest Wall Street firm to endorse the Bitcoin miner’s aggressive push into artificial intelligence and high-performance computing infrastructure.
With Bitdeer shares trading around $9.63 at the time of the initiation, the price target implies roughly 56% upside. For a stock that’s been hammered nearly 40% since late June, that’s the kind of analyst conviction that tends to get attention.
Why Barclays is bullish on a Bitcoin miner
The core thesis isn’t really about Bitcoin mining anymore. Barclays is focused on Bitdeer’s strategic repositioning toward AI and HPC infrastructure, anchored by the company’s approximately 3 GW of powered land assets.
Earlier this month, on August 4, Bitdeer announced a landmark 16-year, $4.7 billion colocation lease covering 121 MW of AI and HPC capacity at its facility in Tydal, Norway. Revenue from that deal is expected to start flowing in early Q1 2027.
